Hello! according to both, org-element-parse-buffer and worg/dev/org-syntax.org,
~file:aa~ ~a *a* a~ =a /a/ a= does not have link, bold or emphasize objects inside the code or verbatim objects. However, the fontification of Org makes it look like that. Also, the emphasis markers inside code or verbatim objects are hidden, when org-hide-emphasis-markers is t. Best wishes Sebastian