The BBC board will launch a review into the effectiveness of the broadcaster's "editorial policies and governance" following Lord Dyson's inquiry into the 1995 Panorama interview with Diana, Princess of Wales.
It said in a statement that it acknowledged the failings set out in the 127-page report, which found the corporation covered up "deceitful behaviour" used by journalist Martin Bashir to secure the interview.
The board added that it hoped to ensure the "mistakes of the past" could not be repeated.
The investigation found that the former Panorama journalist used “deceitful behaviour” in “serious breach” of the BBC’s guidelines, while the broadcaster covered up certain wrongdoing.
Bashir’s tactics included showing faked bank statements to Diana’s brother Earl Spencer in a bid to falsely suggest a number of close aides were being paid to leak secrets.
The BBC's statement said: "We accepted Lord Dyson's findings in full and reiterate the apology we have offered to all those affected by the failings identified.
"We recognise the impact that the events it describes has had on so many people, not least those whose lives were personally affected by what happened. We also acknowledge that audiences had a right to expect better from the BBC.
"As a board we believe that the BBC is a different organisation today, with different and stronger governance, as well as improved processes.
"Nevertheless, Lord Dyson's report speaks to historic failings of oversight and these should be reflected upon. We must not just assume that mistakes of the past cannot be repeated today - we must make sure that this is the case."
It added: "We have confidence that the processes and guidelines in today's BBC are much stronger than they were in 1995, but we know we must also do what we can to prevent such an incident happening again.
"As such, we think it is right that we review the effectiveness of the BBC's editorial policies and governance in detail.
"In doing this, the board will hold the Executive to account to ensure there are strong day-to-day editorial processes and a clear route by which to handle any specific issues arising from Lord Dyson's report.
"The board will look at the culture of the BBC as part of its remit to assess the effectiveness of policies and practice."
As well as deeming Bashir to have acted inappropriately, the report said the BBC "covered up in its press logs such facts as it has been able to establish about how Mr Bashir secured the interview and failed to mention the issue at all on any news programme and thereby fell short of the high standards of integrity and transparency which are its hallmark".
The bombshell interview featured Diana saying "there were three of us in this marriage, so it was a bit crowded" in reference to Camilla.
Questions had been raised almost immediately about the methods used by Bashir and the BBC to secure the extremely high-profile sit-down chat.
The BBC Board appointed Lord Dyson to lead the investigation in November 2020.
The former master of the rolls and head of civil justice examined documents and records from the time and interviewed a wide range of people involved in the making of the programme.
