MISSISSAUGA — The Travel Industry Council of Ontario (TICO) has completed three-quarters of the recommendations set forth by the Auditor General in 2023.

The news was confirmed by the Office of the Auditor General of Ontario (OAGO), which reported the TICO has completed 17 of 23 (74%) of action items directed solely at the organization. TICO is in the process of completing one of the 23 action items and next year will be implementing five remaining items.

According to TICO CEO Richard Smart, the organization has worked over the past two years to make its operations more efficient and effective by implementing the recommendations from the OAGO’s 2023 Performance Audit.

“We recognized these audit recommendations as an opportunity to advance and strengthen the regulatory practices through which TICO oversees Ontario’s travel marketplace,” said Smart. “The changes we’ve implemented position TICO to be more proactive, efficient and data-driven, allowing the organization to better serve consumers and registrants alike. We are committed to continuous improvement to ensure Ontario’s travel marketplace remains fair, safe and trusted.”

The Ministry of Public and Business Service Delivery and Procurement continues to consider and prioritize addressing recommendation 16, which calls for a comprehensive review of the Travel Industry Act, 2002 and TICO’s mandate.

TICO’s key accomplishments from the past two years include:

• Launching an enhanced public search directory, which provides detailed compliance and enforcement information about all registrants
• Improved application processing, including clearer forms and third-party financial verification; conducting an analysis of converting to an online application process in the future
• Reviewed and updated the 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
• 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; enhanced financial reporting for the Compensation Fund for added transparency
• Developed and implemented a process for reviewing and returning registrant security deposits within the established target timeframe

To read TICO’s quarterly progress reports, click here.