Addressing the allegations of child abuse at care homes in north Wales will require a joint approach by both governments through a process that inspires public confidence, the first minister told AMs on 6 November 2012.
Carwyn Jones AM warned that although some issues are devolved and others are not, it was not in the interest of victims to have too many inquiries.
Children's Commissioner for Wales Keith Towler has called for a further inquiry into the abuse which took place in the 1970s and 80s as concerns have been raised that the remit of the original inquiry was too narrow.
Home Secretary Theresa May has already confirmed that the UK government will be conducting an investigation.
Mr Jones agreed with Plaid Cymru leader Leanne Wood that there needs to be as much transparency as possible in the inquiry process.
He also promised to revisit the recommendations in the original Waterhouse report to see if any needed further investigation.
Establishing a children's commisioner was one report recommendation which has been acted on, and the first minister explained that he would be meeting him later on that day to discuss the situation and a statment would follow.
North Wales AM Aled Roberts tabled an urgent question on the matter on behalf of the Liberal Democracts.
Read this in Welsh.