What I wish existed was an independent board exam that students had to take for employment. Many professions have this, from medical professionals, accountants, engineers, and the trades. My thought is this would disincentivize cheating and encourage deep learning at the university level, while offloading the cost of cheat detection and enforcement to a board, whose job is to solely evaluate if someone is capable of entering the workforce. A separation of concerns.
Another reason for board exams: when I was working, I was asked to do a bunch of flimsy engineering to satisfy management. It would be nice if I could respond "If I do this, I could lose my license, so no." Just like if someone asked a carpenter to build a house not up to code, or a dentist told the hygienist to do shoddy work to improve throughput.
If anyone knows anything about this, I'd love to chat, because its something I've been thinking about for a long time and I hope there's a good reason why it doesn't exist.