SYMPTOM:
The Audit button is disabled, grayed out, when trying to generate an audit report on the Strategy Intelligence Server machine using Strategy License Manager as shown below:

CAUSE:
A 3-tier Project Source does not exist on the machine running Strategy License Manager. An audit can only be performed only through 3-tier Project Sources.
ACTION:
Create a 3-tier Project Source pointing to the desired Strategy Intelligence Server machine on the machine running Strategy License Manager. It is recommended to run Strategy License Manager locally on the Strategy Intelligence Server machine: