Not long ago one of our clients opened a Customer Support ticket related to the subject of this discussion. Once a response was provided and case was closed I considered important to share it with the rest of the community.
As you probably are fully aware the SSMAUDIT parameter controls whether changes to SSM resource tables and the directory table are logged to OPSLOG using the trace message OPS7914T. This message includes the SQL operation, the table name, key, and the job name and program name of the address space that issued the SQL command. For SQL updates, the first monitored column name changed and the first 16 characters of the new value are also displayed. In addition we also have five other parameters named SSMMONITOREDCOL1 to SSMMONITOREDCOL5. They are used in conjunction with SSMAUDIT when the value YES is set for OPSLOG recording purposes. Each SSMMONITOREDCOLn parameter can specify an eighteen-character SQL column name. Columns specified within these parameters are actively monitored by System State Manager for all SSM-managed tables. User-defined exits may be written to react to the global events generated by changes to these columns. Changes to these columns are logged to the OPSLOG using the trace message OPS7914T if SSMAUDIT is set to YES.