Last year, the organisation initiated a review of British Cycling after former technical director Shane Sutton resigned from his role amid accusations of sexual discrimination against track athlete Jess Varnish.

Led by Annamarie Phelps, the chairman of British Rowing and vice-chair of the British Olympic Association, the review was launched in April to look at any lessons the National Federation could learn.

A draft report was provided to UK Sport and British Cycling at the end of December 2016 and the findings and key recommendations were expected to be revealed last month, before it was delayed.

In a joint statement released today, UK Sport chief executive Liz Nicholl said "valuable lessons" had already been learned from the process, while Browning vowed to improve the behaviour within its world-class programme, which has delivered huge success for Britain at the Olympic Games.

"Our sport could not have achieved this without the dedication of our talented staff and athletes, and we are committed to implementing the recommendations of the independent review in full to ensure we can provide the best possible environment in which they can continue to flourish," Browning, who replaced Bob Howden as chairman of British Cycling last month, said.

“The failures within our world-class programme occurred at a time when our sport and indeed the wider UK high-performance system were undergoing rapid transformation in terms of realising unprecedented medal success on the world stage. 

"Nonetheless, athlete and participant welfare is our highest priority and we deeply regret any instance where we have failed to deliver.

“Inevitably such a transformation requires frequent adjustment and evolution of governance, policies, procedures and operating practices. 

"We are very grateful to the independent panel and everyone who contributed to the review for helping us better understand the improvements we need to make, and we are fully embracing this opportunity."

It comes after yesterday's explosive Parliamentary hearing regarding the "mystery package" delivered for cyclist Sir Bradley Wiggins at the 2011 Critérium du Dauphiné.

The revelations, saying former Team Sky doctor Richard Freeman received the package on behalf of Sir Bradley on the last day of the traditional build-up race for the Tour de France, were made in front of the Culture, Media and Sport Select Committee, 

The committee also heard yesterday from UK Anti-Doping chief executive Nicole Sapstead, who said there were no records kept of the package.

Nicholl has described the findings, which plunged British Cycling further into crisis, as "shocking” and “unacceptable” today.

She also hinted today that the ongoing UKAD investigation could affect British Cycling's funding for the Tokyo 2020 Olympic Games, which currently stands at £25 million ($30.7 million/€29.1 million), £5 million ($6.1 million/€5.8 million) less than they received in the build-up to Rio 2016.

"In the 21 years since UK Sport was established we have seen a complete transformation in our high performance system, and British Cycling has been among, if not the, standard bearer for that success," Nicholl said.

"Our athletes have inspired the nation, and never more so than they did last summer in Rio where history was made by Team GB and ParalympicsGB.

“While the independent review into what potentially needed to change within the culture of British Cycling’s world-class programme is yet to be concluded the work to date has, as we expected, identified valuable lessons, not only for British Cycling, but also some that we as leaders of the system can implement across all our funded sports.

“The people in our system are our greatest asset and by fully embracing the emerging findings and recommendations of this review, and the implementation of our recently launched code of governance for sport, our system will continue to go from strength to strength.”

Sutton, who quit in April, allegedly told Varnish, who is no longer a part of the programme, to "go have a baby" and was accused of referring to Para-cyclists as "wobblies".

A British Cycling investigation concluded in October that Sutton had used "inappropriate and discriminatory language" towards sprinter Varnish, but another eight claims were dismissed.