I've been trying out Trevor's recommendation of AudioTools from Studio Six Digital (for iPad/iPhone). So far it's been pretty good using the iPad's internal mic. The base app needs a bunch of plug-ins depending on what you want to do. Or you can buy AudioToolsMax which comes with all the plug-ins enabled. Either way it can be a bit pricey. Also, It's best with older iPads with a headphone jack otherwise you'd need to buy a decent line out for it (or use bluetooth). Given that ...
I've also tried REW, which is free, but never took it too far. Amir at Audio Science Review has a decent write up on it:
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