The chief executives body Acevo has set up a commission on better sector regulation that will assess whether the Charity Commission is fit-for-purpose. 

Acevo's announcement comes after fellow umbrella body NCVO said on Tuesday that it will also carry out an independent review of the Charity Commission's governance structure. 

Acevo said it convened the 'Commission on Regulating a 21st Century Social Sector' last month, but did not announce it publicly.

The chief executives body said in a statement that its commission, chaired by Lord Low of Dalston, former chair of the RNIB, has a wider remit than looking only at the Charity Commission. It will also examine other regulators and other country models.

It will look at what changes could be made to improve the regulatory framework and remove red tape, and whether the sector as a whole is over-regulated. 

Acevo said it set up the commission after the Public Accounts Committee's conclusion that the Charity Commission is "not fit for purpose".

Sir Stephen Bubb, chief executive of Acevo, said NCVO’s governance review, aimed at addressing perceptions of political bias in the Charity Commission’s work, would be “the perfect complement” to its own work on regulation.

"We are delighted that the NCVO’s project will follow on so neatly from our current work," he said. "It is excellent to see that we are both addressing the issues that matter the most to our CEO members.

“For a modern and vibrant third sector, we need effective regulation that helps CEOs run their organisations, and does not hinder them. We will be consulting CEOs widely on this.

“ACEVO’s commission will seek to find ways to bring our regulatory framework into the 21st Century. We will work with NCVO help in continuing this agenda, including working with them to protect and enhance our essential campaigning role.”