TICO completes 70% of Auditor General action items

MISSISSAUGA — TICO has released its fourth quarterly update, reporting that 70% of the action items assigned by the Office of the Auditor General of Ontario (OAGO) have been completed as of March 31, 2025.

According to the report, TICO has completed the following over the past three months:

Launched an enhanced public search directory, which provides detailed compliance and enforcement information about all registrants.

Reviewed and updated its risk rating system for registrants to include an assessment of additional non-financial factors, including the results of past registrant inspections and violations of legislative requirements.

Established a policy for how frequently registrant risk ratings should be updated, as well as how frequently TICO should conduct registrant inspections based on each risk rating.
Implemented a new policy for determining the method and frequency of recovering reasonable costs associated with the administration, management and protection of the Compensation Fund, along with an enhanced financial reporting structure.
Updated the Registrant Toolkit with new shareable materials to assist registrants in their communication of available consumer protections to their clients.

“Implementing the Auditor General’s recommendations has been a key priority for the organization, and we’ve made significant progress to date,” said TICO CEO Richard Smart. “The enhancements we’ve made are already delivering positive results in how we protect consumers and oversee Ontario’s travel marketplace.”

Unveiled in December 2023, the OAGO’s report contains a total of 16 recommendations, with nine of those directed at TICO, six at both TICO and the Ministry of Public and Business Service Delivery and Procurement (Ministry) and one at the Ministry. One of the key takeaways in the report was that “TICO’s cost to administer the Compensation Fund may outweigh the benefits it provides to consumers.” In response, TICO unveiled a new Public Action Plan in May 2024 that outlines how the organization will address the OAGO’s recommendations.