In Schema browser, right click an object and select 'create script'.
Message: Access to the following is required: DBA_OBJ_AUDIT_OPTS
Toad checking DBA_ instead of USER_ when appropriate.
WORKAROUND:
In Schema Browser's object script tab, select "View/Edit Script Options" (from within Script tab)
Disable "Audit Statements" option
Click OK in bottom left to apply. (see attached)
STATUS:
Issue fixed in version 12.5. The latest version of Toad For Oracle can be downloaded at: https://www.quest.com/products/
