Q: Is there an ability to track and trace logging of changes and deletions?

A: You can check the following:

• Audit trail (project/activity details page), it has information about changes done to a project/activity and includes information about who did which action and when.
• Security log (user details page), available in the Enterprise edition, lists all events of changing user password, password expiration, user account lock and expiration due to inactivity, etc.
• SYS_BackLog table in the database, it lists events of deleting projects, activities, and time entries with full information about deleted objects including information on who did which action and when.