In the etatrans log you would see something like:
20170120:122225:TID=001528:Modify :E905:----:S: External Modify (eTORAPolicyName=my_template)
So the first column is a date (Jan 20, 2017) the second column is a time (12:22:25pm) and the third column is a thread ID which could be helpful in following the transaction through the log. Note that some operations spawn child operations which would get a different thread ID though.
When the request completes you would see something like the below which includes either SUCCESS or FAILURE:
20170120:122225:TID=001528:Modify :E905:----:F: SUCCESS: External Modify (eTORAPolicyName=my_template)
Within the External Modify you would see tag pairs such as the following that follow the same format as above where DB ones refer to requests sent to the Provisioning Repository and Connector Server ones refer to requests sent to the Connector Server.
DB Search, DB Modify, DB Add, DB Delete
Connector Server Search, Connector Server Modify, Connector Server Add, Connector Server Delete