I understand that iPhone (and iPad) allow IT to enforce setting of password (1). I think from the security perspective, IT is more worried about ability to remotely manage the device (like remote wipes in case of loss etc).

1. http://images.apple.com/iphone/business/docs/iOS_6_Security_...

Edit: I realized that the link is for iOS 6 - though I wouldn't expect them to reduce business IT functionality, not sure if these options are still in iOS 7.