MISSISSAUGA — TICO has released a quarterly update on the progress it’s making with its Public Action Plan. Unveiled this past May , the plan was made to address recommendations from the Auditor General of Ontario’s (OAGO) December 2023 value-for-money audit report , which included tough feedback about TICO and the Compensation Fund. According to the OAGO: “TICO’s cost to administer the Compensation Fund may outweigh the benefits it provides to consumer.
” The OAGO report contains a total of 16 recommendations, with nine of those directed at TICO, six directed at both TICO and the Ministry of Public and Business Service Delivery, and one directed at the Ministry. In this latest update, TICO outlines the progress it has made up to May 31, 2024 and confirms it has completed five action items associated with its nine recommendations. “Thanks to the hard work and dedication of our team, we have made great strides in addressing the OAGO’s recommendations, allowing for greater efficiency in our operations,” said TICO CEO Richard Smart.
“As we continue implementation, we remain focused on enhancing our processes while delivering value to our stakeholders.” TICO will continue to provide quarterly updates on the plan’s progress. To read the quarterly update click here .
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