NO. Definitely not.
If you held to that point of view, you could end up with a blindly rigid or authoritarian system that drove people bananas.
I recently cleaned up a system where the previous consultant would do the internal audits, find a tiny little 'NC' and then as far as I could see spend at least 30 minutes handwriting out a CAR that reported gobsmacking issues such as 'form XYZ was missing its issue date'. I figure he spent more time writing them out than fixing!
Andy's examples are good ones, highlighting the difference between when one might write up an NC and when one might not.
Ah hah, will say the rigid authoritarian, if you don't write up everything, then how will you know if there is a trend or not? It's an OK question on the one hand, but on the other, you have to keep in mind risk management, status and importance, as well as commercial considerations. And it is a question you need to have a reasonable answer to.