Company function recalled by wild yeti (7)
I believe the answer is:
society
'company' is the definition.
(I've seen this in another clue)
'function recalled by wild yeti' is the wordplay.
'function' becomes 'cos' (mathematical function).
'recalled' says the letters should be written in reverse.
'by' says to put letters next to each other.
'wild' indicates an anagram.
'cos' in reverse letter order is 'soc'.
'yeti' is an anagram of 'iety'.
'soc'+'iety'='SOCIETY'
(Other definitions for society that I've seen before include "Fellowship, association" , "An organised community, may be high" , "Organisation, club" , "Community - group" , "Culture - association" .)