Audit and Assurance Being well-prepared for an audit is an efficient audit
There a number of main changes for CLGs under the Companies Act 2014 (the “Act”):
- a CLG does not have to convert or register under the Act but continues in existence;
- a CLG will have to change its name to include the words 'Company Limited by Gaurentee' or 'CLG' for 'Ltd' at the end of its name by the end of the transition period, otherwise this will automatically happen;
- a CLG may have one member but must have two directors; and
- a CLG cannot dispense with the holding of an AGM where it has more than one member.