CA Identity Manager: Jboss is throwing a DB error immediately after installation

Document ID : KB000113637
Last Modified Date : 12/09/2018
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After installing a copy of Identity Manager, Jboss fails to boot up with the following or a similar error message: 
Error in creating Auditing database schema.: There is already an object named 'IM_Audit_Start_Date' in the database.
There was a problem in building the tables that Identity Manager uses. 
The solution to this is to drop the tables that Identity Manager created in your database and let Jboss recreate them during the next start up. If this installation was performed over an old Identity Manager database, the old DB should be backed up and then dropped.