TORONTO — TICO’s new Public Action Plan outlines how the organization will address the recommendations of the OAGO.

Industry watchers will recall that the ‘value-for-money’ audit released by the Office of the Auditor General of Ontario in December 2023 included some tough feedback for TICO, including this takeaway: “TICO’s cost to administer the Compensation Fund may outweigh the benefits it provides to consumers.”

The latest statement from TICO says the updates in the initial Public Action Plan are as of March 31, 2024. Progress updates will be posted on a quarterly basis going forward.

The OAGO’s report included 16 recommendations, with nine of those directed at TICO, six directed at both TICO and the Ministry of Public and Business Service Delivery (Ministry) and one directed at the Ministry.

“TICO is committed to transparency and continuous improvement as it embraces the recommendations of the Auditor General to benefit all stakeholders,” said TICO CEO Richard Smart. “TICO remains committed to enhancing its policies and procedures, risk-based decision-making processes, and its collection and analysis of data to improve business intelligence of the travel marketplace and the businesses it regulates.”

To access the Public Action Plan, click here.