Tragic!
Most cars have an ODBII port, you can program the car to restrict RPMS, top MPH, and shift points on automatics. I have tuned a number of Ford cars, and this is entirely feasible option for controlling the max that a car can do. I helped a couple people do this to their cars, they flash it with the restrictive programs, and let the kid drive the car.
Not sure where your living mate, but that pile of crap most likely still runs a points distributor on an ex BMC engine, probably an old A10, ODBII LMAO! IRS would be an acronym unknown to that foctory :)