This paper presents AuditBench, a new benchmark dataset for evaluating the capabilities of LLMs at investigating security-related system audit logs. We design and use this benchmark to explore the performance of LLMs on four log-investigation tasks that incident response teams commonly perform, ranging from triaging alerts generated by detectors to identifying persistence mechanisms on compromised systems. AuditBench consists of system audit logs collected from Linux and Windows machines, and spans over 50 different security investigation scenarios, including both malicious and benign activity. Using our benchmark, we evaluate and analyze the performance of five frontier LLMs at analyzing audit logs for attack investigations. Our analysis illuminates how LLM performance and error profiles vary according to different design choices, such as differences in model size, data representation, prompt construction, and specific investigation tasks. Additionally, we characterize the quality of the explanations produced by LLMs and the types of errors that models make across our benchmark. Collectively, our work provides a foundation for assessing the capabilities of LLMs for investigating security logs, novel insights for practitioners using LLMs in security operations, and important directions for future research.