Green has come under intense recent scrutiny over the extent of former Rangers owner Craig Whyte's involvement when his group took control at Ibrox last year. The Rangers chief executive also apologised to his fellow directors at a board meeting over the interview which saw him receive a Scottish Football Association charge accusing him of using "racist and offensive language".
The club released a statement, which read: "The board has announced today it is to commission an independent examination and report in view of recent allegations in the media concerning the chief executive, Charles Green, the commercial director, Imran Ahmad, and their management of the club."
The statement continued: "The decision to commission the examination was taken unanimously by those in attendance at today's meeting including non-executive and executive directors.
"The independent report will be commissioned and completed as speedily as possible and presented directly to the non-executive directors of the company. The chief executive will not be involved in the conduct of the examination.
"The board wishes to make clear that is not prejudging any of the issues involved and that the object of this exercise is to clarify the situation to the satisfaction of shareholders, supporters, staff and board members.
"Instructions recently given to lawyers in England and Scotland with a view to taking legal action to challenge these recent allegations will form part of the independent examination."
Green has been forced on to the defensive in recent weeks following allegations by Whyte, which were accompanied by taped recordings between himself and both the Rangers chief executive and Ahmad.
Whyte claimed he was behind the new company which bought the assets and business of the club when they were consigned to liquidation following his failure to pay tax.
Green then denied he had ever been Whyte's "front man" and claimed he and Ahmad had told him what he wanted to hear because they needed his co-operation to acquire shares if the club had secured a Company Voluntary Arrangement.