Yes. Goto "Server Date/Time Configuration" in the admin area and use the Time Adjustment.
You have to understand that the servers are on Texas time and will be wrong for everyone in a different timezone. You can change it as I have said above but some of your users will still see it as wrong.
e.g. on the Support Forums here you posted at 07:10 am while it is 13:10 here my time (GMT).
Posts still appear in the correct order by which they are posted no matter what timezone the user is in.