I will echo the suggestions bellow, try not to think on lifecycle but consistency boundary.
Also, make sure you understand the difference between an Aggregate and an Entity. It's not because an object is identifiable (hence an Entity) and has a lifecycle that it must be an Aggregate.
An Aggregate can be made of one or more objects in which the most prominent one gives the name to the Aggregate (it's also called the aggregate root). The root is an Entity because it does have an unique identifier, but it can contain other Entities and Value Objects.
About the audit log, nothing holds you to have audit on entities living inside an Aggregate. Since you are choosing for CQRS, you can (and probably will) have events expressing mutations on those inner objects.
Always think on transaction terms:
Aggregate == Consistency Boundary
As a consequence, you can't have one inside another.
If you nest them, changing the inner one, means changing the outer one. That means that your consistency boundary is always the outer one and therefore there is only one Aggregate.
I hope this give you enough insight on what is an Aggregate.
Cheers,