This is true in principle, but only if the resulting function is still differentiable. Each loop or conditional can make your function non-differentiable, perhaps in subtle ways. Of course, this can also happen in "pure formulas" if you use abs(), sgn() and friends, and becomes even more nasty with floor(), ceil() and friends. But it occurs more commonly in code due to if(), for() and while().
Having said that, most of the time your resulting function is at least piecewise differentiable, which is annoying and needs to be taken care of, but is not a show stopper.
Note that piecewise linearization is still an active research topic, e.g.
Having said that, most of the time your resulting function is at least piecewise differentiable, which is annoying and needs to be taken care of, but is not a show stopper.
Note that piecewise linearization is still an active research topic, e.g.
"On stable piecewise linearization and generalized algorithmic differentiation" http://dx.doi.org/10.1080/10556788.2013.796683