I know that you can not setup a workflow for notes added to an account. But is there a way to setup an e-mail alert when a new note is added to an account when the person adding the note is not equal to the account owner? 

Example being, ABC company is an account assigned to Bob. Steve had an interaction with someone from ABC company and added a note to the account. How can Bob get an e-mail alert that an account assiged to him has modified by another user?

I also know that when  a note is added it does not change the "Edit Date" or the "Modified By" fields. So is there anyway to report on this action?