Ontario’s auditor general reports that the Travel Industry Council of Ontario (TICO) has completed three quarters (74%) of the action items directed at the organization two years ago to make its operations more efficient and effective.
“We recognized these audit recommendations as an opportunity to advance and strengthen the regulatory practices through which TICO oversees Ontario’s travel marketplace,” said TICO CEO Richard 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.”
The Office of the Auditor General of Ontario’s (OAGO) two-year follow-up audit confirmed TICO’s progress in addressing these recommendations:
- 74% – TICO has completed 17 of 23 action items, directed solely at the organization.
- 4% – TICO is in the process of completing one of 23 action items, directed solely at the organization.
- 22% – In 2026, TICO will implement five remaining action items, directed solely at the organization.
The Ministry of Public and Business Service Delivery and Procurement (ministry) continues to consider and prioritize addressing recommendation 16, which calls for a comprehensive review of the Travel Industry Act, 2002 and TICO’s mandate.
All action items jointly directed to the ministry and TICO that are closely related to TICO’s mandate, structure and responsibilities will be addressed based on the outcome of the ministry’s consideration of recommendation 16.
TICO’s key accomplishments from the past two years include:
Enhanced transparency with modernized directory
- Launched an enhanced public search directory, which provides detailed compliance and enforcement information about all registrants.
Streamlined operations for better oversight of registrants
- Improved application processing, including clearer forms and third-party financial verification. Conducted an analysis of converting to an online application process in the future.
- Updated systems and processes for enhanced complaint outcome tracking.
Advanced a risk-based oversight model
- 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.
- 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.
Strengthened financial reporting and Compensation Fund management
- 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.
Improved security deposit management
- Developed and implemented a process for reviewing and returning registrant security deposits within the established target timeframe.
To see the full two-year follow-up report, click HERE.
If this article was shared with you by a friend or colleague, you may enjoy receiving your own copy of Travel Industry Today with the latest travel news and reviews each weekday morning. It’s absolutely free – just CLICK HERE.