He said in a statement that he acknowledged the shortcomings exposed in the 127-page report, which found the company was covering up “deceptive behavior” used by journalist Martin Bashir to obtain the interview.
The council added that it hoped to ensure that the “mistakes of the past” could not be repeated.
The investigation found that the former Panorama journalist used “deceptive behavior” in “serious violation” of BBC guidelines, while the broadcaster covered up some wrongdoing.
Bashir’s tactic was to show fake bank statements to Diana’s brother Earl Spencer in an attempt to falsely suggest that a number of close associates were being paid to divulge secrets.
The BBC statement said: “We have accepted Lord Dyson’s conclusions in their entirety and reiterate our apologies to all those affected by the identified shortcomings.
“We recognize the impact that the events he describes had on so many people, especially those whose lives were personally affected by what happened. We also recognize that the public had a right to expect better from the BBC.
“As a board of directors, we think the BBC is a different organization today, with different and stronger governance and improved processes.
“Nonetheless, Lord Dyson’s report speaks of historic surveillance failures and these should be reflected on. We don’t just have to assume that the mistakes of the past can’t be repeated today – we need to make sure that it is. “
He added: “We are convinced that the BBC’s processes and guidelines today are much stronger than they were in 1995, but we know that we also need to do what we can to prevent that such an incident does not happen again.
“As such, we think it is fair that we take a detailed look at the effectiveness of the BBC’s editorial policies and governance.
“In doing so, the board will hold the executive accountable to ensure that there are strong day-to-day editorial processes and a clear path through which to address any specific issues arising from Lord Dyson’s report.
“The council will look at the culture of the BBC as part of its mission to assess the effectiveness of policies and practices. “
In addition to finding that Bashir acted inappropriately, the report states that the BBC “withheld facts from its newspapers that were able to establish how Mr. Bashir got the interview and did not have to. all mentioned the problem in any informational program. and therefore did not meet 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 were raised almost immediately about the methods Bashir and the BBC used to secure the high-profile sitting cat.
The BBC board appointed Lord Dyson to lead the investigation in November 2020.
The former master of roles and head of civil justice reviewed documents and archives from the time and spoke to a wide range of people involved in developing the program.