The NGO has made a voluntary disclosure to the Charities Regulator
The Gay and Lesbian Equality Network GLEN is potencially facing a review by the Charities Regulator.
The Sunday Business Post says the non-governmental organisation has made a voluntary disclosure to the regulator amid queries over a number of issues.
These include the use of funds for non-GLEN political campaigns and the use of company credit cards for private purposes.
Concerns were also raised over poor corporate governance and a lack of internal controls.
The paper also says that the charity has taken steps to address issues of governance, financial management, infrastructure and controls.
The matters were brought to the attention of the regulator by the group's recently-installed CEO Áine Duggan.
GLEN has worked on a broad range of issues including sexual health, mental health, community development and workplace equality.
News correspondent for the Sunday Business Post, Colette Sexton, says no official investigation is currently underway.
"Áine Duggan, when she took over as chief executive in October, did a process of due diligence and during that process found a number of irregularities which she brought to the board first of all, and then the board brought to the Charities Regulator.
"So now a formal investigation has not yet been launched by the Charities Regulator, but it said it is investigating these issues that have been brought to it".
She also says funding from the Health Service Executive (HSE) could be withheld pending any such probe.