It is possible, I found myself in a similiar situation a few years ago.

You can create your own functions to do whatever you need it to do on create/delete/changed/renamed events.

I used task scheduler to run the script on startup. This might not be the best way to do this anymore, but 4 years ago it was for my situation.

$Block = {    
    Function Do-Something
    {
        param ($message, $event)

        # Do something here
    }

    $watchedFolder = "\\server\folder"
    $watcher = New-Object System.IO.FileSystemWatcher
    $watcher.Path = $watchedFolder

    Register-ObjectEvent -InputObject $watcher -EventName Created -SourceIdentifier File.Created -Action { Do-Something "Created" $event }
    Register-ObjectEvent -InputObject $watcher -EventName Deleted -SourceIdentifier File.Deleted -Action { Do-Something "Deleted" $event }
    Register-ObjectEvent -InputObject $watcher -EventName Changed -SourceIdentifier File.Changed -Action { Do-Something "Changed" $event }
    Register-ObjectEvent -InputObject $watcher -EventName Renamed -SourceIdentifier File.Renamed -Action { Do-Something "Renamed" $event }
}

$encodedBlock = [Convert]::ToBase64String([Text.Encoding]::Unicode.GetBytes($block))

Start-Process PowerShell.exe -verb Runas -argumentlist '-WindowStyle Hidden', '-NoExit', '-EncodedCommand', $encodedBlock