Hi Ankush
The Policy Manager's help tool (Press F1) has a great section on context variables available in the policy. Once you have loaded the help in the browser search for 'Context variables' and choose the top ranked result. This is one of the most useful pages of documentation shipped with the Gateway. From this page I can see the following variables that can be used with audit log messages:-
${policy.guid} Returns the GUID of the current policy. When not part of a policy fragment, this is the same as ${service.policy.guid}.
${policy.name} Returns the name of the current policy.
${policy.version} Returns the active revision of the current policy. When not part of a policy fragment, this is the same as ${service.policy.version}.
${service.name} Returns the name of the protected service (i.e., the service published on the Gateway).
${service.oid} Returns the entity ID of the service policy. This entity ID is also displayed on the [General] tab of the Published Service Properties dialog. For more information, see Service Properties.
${service.policy.guid} Returns the GUID of the service policy. This GUID is also displayed on the [General] tab of the Published Service Properties dialog. For more information, see Service Properties.
${service.policy.version} Returns the active revision of the service policy.
Are you after anything else regarding the policy?
Regards
Christopher Clark
CA Support