I often use NSNotificationCenter to broadcast updates from model objects to interested controllers. For a more tightly bound interaction, consider making a delegate protocol for the model object.
A notification is mostly one way, although the listener could access the model object that sent the notification. There can be any number of interested parties, including none if controllers come and go but the model is persistent.
A delegate is two way, but there can only be one delegate at a time. Usually a delegate is expected to outlive the object it is a delegate to. A delegate might be good for a phase of a model object lifespan that requires extra user input.
Notifications and delegates can be used simultaneously. As with UIApplication, the delegate is usually called before the notification is sent.