I'm simply quoting the most recent ICAO audit conclusion, and I will read it in English:
The results of the audit indicate that Canada has developed appropriate specific operating regulations to enable it to effectively meet the regulatory requirements for safety oversight. The TCCA has developed the requisite regulatory functions, objectives and safety policies to implement its mandate to carry out safety oversight responsibilities. The TCCA has introduced regulatory changes to further improve the safety performance of Canadian air operators and increase accountability. The proposed changes would require air operators to implement safety management systems in their organizations, which could lead to the early identification and resolution of potential problems and safety risks. The expected result of this initiative would be the improvement of safety practices fostering stronger safety cultures within the civil aviation industry.
I find that this is a very good endorsement from the ICAO.