The Oireachtas Communications Committee has been examining the growing use of social media and the increasing problem of cyber bullying here.
Research published earlier this year found that Ireland's level of online bullying is above average compared to the rest of Europe.
A discussion paper points out that the Office of Internet Safety does not have a formal regulatory role and raises concerns that it is not sufficiently developed to deal with the threats posed by the misuse of social media.
The Working Group says that a single body be given responsibility for co-ordinating the regulation of social media content which should report to the Ministers for Justice and Communications.
The Office of Internet Safety is an Executive office of the Department of Justice.
A spokesperson said that they haven't seen the report and will comment following its publication which is expected next week.