The Charity Commission is looking into governance concerns at Age Concern Slough and Berkshire East after the charity launched an internal investigation of its chief executive and began a management restructure.
The charity for older people said in a statement that because of financial pressures the board had been reviewing its senior management structure "with the intention of reducing our overheads".
It said that Tracey Morgan, the charity’s chief executive, was absent during this process because of an investigation.
"This review has taken place in the absence of the chief executive, who is the subject of an internal investigation upon which we are unable to comment," the statement said.
It did not say how long Morgan had been away from the office or give any further details.
The charity said it had also initiated a "root-and-branch governance review to ensure that the charity as a whole has effective and compliant controls and policies and transparent internal processes and communications".
The statement said: "This review, undertaken by a governance consultant, is complete and in place for a visit by the Charity Commission in February, which we welcome as an opportunity to provide an external review by our main regulator."
The charity will also be carrying out a strategic review of its services and growth plan in March.
A spokeswoman for the Charity Commission said the regulator was investigating governance issues at the charity after it was provided with information by a whistleblower.
"Governance issues concerning the charity have been raised with the commission and we are looking into the matter," she said.
"We are aware that the charity trustees have taken certain steps, but we cannot comment on these at this time. Questions concerning suspensions should be put to the charity, not the commission."
The charity’s statement said a whistleblower had been making unauthorised statements to the press that were "wholly inaccurate and appear intent upon damaging the charity and its good name".