"In the same way that rugby seeks to do better on the field, we must constantly seek ways to improve off the field. The integrity, reputation, and ultimate success of the game in New Zealand depends on this."
New Zealand Rugby chairman Brent Impey said the panel has been asked to convene at least once before the end of this year with further meetings to be held in the new year.
"A preliminary report will be provided to the NZR board in April 2017, and we expect to be able to share the outcomes of the review in May 2017." he said.
He added: "The work we are announcing today, will undertake a review of New Zealand Rugby policies, processes and programmes already in place, and that may need to be developed further, to build a culture of respect and responsibility in the professional rugby environment.
"This review is part of our continued efforts to be a world leading organisation that enables everyone involved with rugby in New Zealand to be the best that they can be.
"Rugby has long been held up as one of the unique vehicles for New Zealanders to feel connected to each other, to be inspired, and be great members of their communities. We want to play our part in those opportunities and ensure rugby plays a positive role in our society.
"NZR has clear expectations of its players, coaches, team management, executives, administrators and governors, their responsibilities and how they should conduct themselves.
"We want to review how these expectations are communicated and ingrained to ensure the standards of conduct and the underlying culture of respect and responsibility are clearly understood and maintained."