If you have local administration rights then you take responsibility for being the admin, good and bad.
That simply doesn't work. Do this, and most likely before you've granted admin rights to two users, you'll have one who says "Ok, sure, I'll take responsibility for all that.", and subsequently never, ever acts as if they're responsible.
Then, when something bad happens because they've done something nutty with admin privs, IT finds out they have absolutely no teeth with which to enforce accountability.