Why is there a requirement to deliver a CIC report and accounts?

Whatever membership, structure, or governance is adopted, it is up to the directors and members to ensure it is complied with and is in the best interest of the CIC and its community. This is overseen by regulation.

To this end a CIC must deliver to the Registrar of Companies a community interest company report with its accounts, both documents are placed on the public record. The community interest company report provides transparency of operation.