How often does TICO perform audits of travel agencies?

The correct choice is based on the fact that TICO (Travel Industry Council of Ontario) utilizes a risk-based approach to determine the frequency of audits for travel agencies. This means that the audits are not conducted on a strict schedule like annually or semi-annually for all agencies. Instead, TICO assesses the risk associated with each agency and conducts audits accordingly. Agencies that pose a higher risk based on their operations, complaints, financial issues, or other factors may be audited more frequently, while those deemed low-risk might undergo audits less often.

This approach allows TICO to manage its resources more effectively and focus its efforts on areas that present a greater potential for issues or non-compliance. By doing so, it can ensure a higher level of oversight where it is most needed, providing better protection for consumers and promoting overall industry integrity.