Acting chief executive Nigel Walker says the Welsh Rugby Union's (WRU) future is at stake if changes are not made.
Chief executive Steve Phillips stepped down from his post on Sunday.
"If we are not prepared to change the future of Welsh rugby and the Welsh Rugby Union is in danger," said Walker.
Walker, who has been promoted temporarily from his role as performance director, described Welsh rugby's governing body as being in crisis.
There has been remorse and contrition shown, with Walker and chairman Ieuan Evans appearing at a press conference on Monday at Welsh rugby's Principality Stadium home.
"It's about restoring credibility and it will be up to people outside the organisation to tell us when they think we've restored credibility," said Walker.
"I'm sure if we went out to our stakeholders now and asked them what they thought of us, the scores will be low.
"The test will be in 12 months' or two years' time, [if] you ask the same question and [what] answers you get. We'd expect the graph to be going upwards."
Taskforce to assess the union
An external taskforce is to be established to look at every aspect of the union.
Welsh sporting body Sport Wales is to advise on the make-up and remit of the taskforce and elect the members and chair.
WRU chairman Evans and the Welsh government's deputy sports minister Dawn Bowden have agreed this approach.
"You can have it as wide as possible and it's going to take quite a bit of time," said Walker.
"Or we can have a more defined terms of reference highlighting specific areas where perhaps the taskforce will meet and come to a conclusion more quickly.
"That's the balance we've got to strike and what the meeting is about today, to set the terms of reference exactly what Sport Wales and government will want to look at.
"We don't want to be sitting here in three or five months' time without it having been reported because the terms of reference are so wide.
"We want to get those recommendations as quickly as possible, be fit for purpose, and we need to undertake that we will implement the changes required.
"We do need change. We want to get to that change programme as quickly as possible."
The 'toxic culture' allegations
Nothing will be off the table in the review, with Evans saying the taskforce will be able to "access all of the information".
There have been allegations of a toxic culture at the WRU, with the testimony of former head of Wales women's rugby Charlotte Wathan raising most alarm.
Wathan claimed a male colleague - who remains at the WRU - joked in front of others in an office environment that he wanted to "rape" her.
The WRU has said that particular accusation was independently investigated and remains unsubstantiated, and that it cannot comment further due to a legal settlement.
"I sat watching that programme and I found it a harrowing experience," said Evans.
"I'm a father of two young women and that's something I never want to experience again, watching that programme with the allegations made.
"It got investigated and we've now employed a taskforce to investigate all the evidence there. We now need to leave that at arm's length.
"We made the decision to allow an independent panel with an independent chair to look at everything with the cultures and behaviours within the organisation. We await the recommendations."
Walker added: "Just to endorse what Ieuan said a well-known law firm, one of the biggest in Wales, investigated the allegation.
"They came to a view they couldn't substantiate the claim and if that investigation is required by the taskforce, it will be turned over to them, they can look at it and say if it needs to be investigated again.
"If people need to be interviewed, we will comply with it, we're opening up our shop, no question is off the table, they can have access to everything.
"Until somebody is found guilty they are innocent, it's still an alleged comment because it couldn't be substantiated.
"That investigation was conducted by an expert in their field, I can't say any more than that. I've not seen the investigation and if I had, I'm not qualified to talk about it."
Women's review to be made available
The now departed Phillips said last week the previously unpublished, damaging review of the women's game in 2021 could now be made public.
Walker, who joined the WRU after the review was finished and has since started to orchestrate an overhaul of the women's game including the introduction of professional contracts, endorsed that.
"When I was interviewed for the performance director role I was sent the review, I was told in the final interview that [women's rugby] would be one of my priorities," added Walker.
"A decision already made at that stage it wouldn't be published and it was written in a way not for public consumption.
"As far as the taskforce is concerned, we've made a decision the full review is made available to them.
"I think we'll get to the stage where the review will be put in the public domain.
"Some bits may need to be redacted if individuals can be identified but I am comfortable with that.
"Having been responsible for taking the women's programme forward, we have made huge strides.
"It's not the perfect programme yet, but it is streets ahead of where it was and the vast majority of recommendations have been implemented."
Chair Evans' future
Former Wales captain Evans has only been in his position since November 2022, when he replaced Rob Butcher.
His backing of Phillips last week raised questions about his credibility.
"In my heart, I'm very loyal," said Evans on Monday.
"I like to think I have integrity, it's up to others to judge whether I have or not.
"Steve Phillips had made changes but when he decided he would like to step down, we accepted that resignation.
"We feel now is an opportunity to move forward, an opportunity to establish a culture, a new sense of direction and leadership.
"We have reached a point of crisis here, we need to reassure, give comfort and confidence we have the ability to emerge from this as a far stronger organisation. I'm already saying I'm determined to drive change and I'm at the forefront of that."
Evans is campaigning for an independent chair at the WRU who would technically replace him.
He has to persuade Wales' clubs to adopt this measure at an extraordinary general meeting (EGM) in March after the union failed in it first bid at the 2022 AGM.
"I've already stated on record that an independent chair is the way forward and hope to convince the clubs that is the right path forward. I've no doubt they'll understand that," said Evans.
"Where we are now and the crisis involved, we accepted the resignation [of Phillips] and we now move on, hopefully with a clearer take of where we need to go.
"These are dark moments but hopefully it's an opportunity we can grasp so we can see a fresh horizon."
Governance review
The EGM might also consider more revolutionary measures about transforming WRU governance, depending on what the taskforce recommends and when it reports.
There has been criticism of the make-up of the WRU board, with its lack of diversity and professional business experience.
A damning email from Cardiff non-executive director Hayley Parsons which was backed by the four Welsh professional regions emphasised this view.
The WRU is a union of clubs and they need to vote for the changes, with Walker arguing that has to happen.
"You come up with a compelling argument for change because where we are now is not sustainable," said Walker.
"I can't it put it any more bluntly than that."
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