TICO implements five measures from the OAGO recommendations

TICO states that it is working to implement the changes proposed by the Auditor General of Ontario.

TICO announced on July 15 that it had completed five actions related to the nine recommendations made by the Auditor General of Ontario (OAGO) that were addressed exclusively to the association.

“Thanks to the hard work and dedication of our team, we have made great progress in implementing the OAGO recommendations and making our operations more efficient,” said TICO CEO Richard Smart. “As we continue to implement, we remain focused on improving our processes while creating value for our stakeholders.”

Back in December, the OAGO sharply criticized TICO’s performance in a report. Among other things, it criticized the costs of the compensation fund, the retention of security deposits and the lack of compliance checks.

The report said auditors concluded that “the costs to TICO of administering the compensation fund may exceed the benefits it provides to consumers.”

In early May, TICO released a public action plan detailing how the organization will implement the December 2023 recommendations. Test report on price-performance ratiowhich reflected TICO’s progress MARCH 31 2024.

The OAGO report contains 16 recommendations, of which nine are addressed to TICO, six to both TICO and the Ministry of Public and Business Service Delivery (Ministry), and one to the Ministry.

TICO said it will continue to report quarterly on the plan’s progress.

To access the quarterly update, Click here.