In a nutshell, no. All administrators (which by default is just the "admin" user) bypass all permission checks in the system, and therefore always have full access to everything, all of the time.
Now this isn't an issue per se, since normally no one should be using the "admin" login anyway - each user should have their own unique (non-administrator) login (this includes IT / support staff). You can help to guarantee this by changing the admin user's password to something obscure and not sharing it with anyone.
Cheers,
Peter
