Is there a way to view who and when changes are made to the exchange 2007 server? Example if someone creates a new managed folder mailbox policy, is there a way to see who made the change and when it was created?

Exchange 2007 SP2 adds: Enhanced Auditing - New Exchange auditing events and audit log repository enable Exchange administrators to more easily audit the activities occurring on their Exchange servers. It allows the right balance of granularity, performance, and easy access to audited events via a dedicated audit log repository. This simplifies the auditing process and makes review of audited events easier by segregating audited events in a dedicated location.

...and Exchange 2010 improves on this further.

Is there anything for exchange 2007 sp1?

Please see here:Configure Auditing to Track Exchange Server Usagehttp://technet.microsoft.com/en-us/magazinebeta/dd547066.aspx

...and Exchange 2010 improves on this further. about 2010: http://technet.microsoft.com/en-us/library/dd335052(EXCHG.140).aspxFor Exchange 2007, please refer to the links provided by Mike.