A CIC does not have a board of trustees. This is in contrast to a charity that operates as a company limited by guarantee.
However, the CIC is subject to certain checks through regulation. The CIC’s community purpose and the use of its assets are overseen by the Regulator and, stakeholder involvement is integrated into the CIC’s governance through the community interest company report. There is nothing to stop a CIC from establishing a group of stakeholders to scrutinise the work funded and to monitor its progress.