Correct me if I'm wrong here...
But, I believe the question revolves around conversion from CD audio to a computer format. The first thing to understand is that normal CDs (audio CDs) are already a bit compressed over the master recordings, which is why there is a market for such things as Super Audio CD (SACD) and DVD-Audio (DVD-A).
So, when making a 1 to 1 copy of a CD there are several ways to do it without losing one speck of detail from the original CD recording and the most common method is using .wav file format. 16 bit, 44.1mhz copies are bit for bit digital copies of the CD with zero loss.
There are also true encoders which can 'zip' that data up a bit tighter without losing any of the quality. It doesn't throw away data, but uses math to find patterns, etc. to simply make the file smaller but during playback recovers 100% of the original data. About 2 to 1 file compression so a 100MB song in .wav format will only take up about 50MB using those compressors.
A good example that I have heard a lot about is the FLAC(?) encoder. I believe it means Free Lossless Audio Codec or something like that.
Anyway - yes, as long as you are creating a .wav file at 44.1mhz 16-bit stereo from the CD then your copy is indeed a perfect match to the CD original.
EDIT: Here's a good quick write up of FLAC...
http://en.wikipedia.org/wiki/FLAC