The report, by Sir Roger Singleton, focuses on progress made since Lord Laming's recommendations on child protection one year ago.
It warns that simply making efficiencies in central and local government will not generate enough cash to fund changes in safeguarding practice.
Instead, government must independently assess the extra costs facing local agencies and Cafcass, to inform the basis for providing additional funding.
Singleton's report questions whether Ofsted's remit should be expanded to include more of an improvement support role.
He explained: "In such a sensitive and complex area as child protection the inspection agencies must play a critical role in ensuring that the lessons from inspections are learned and acted upon at the frontline, as well as being used to influence policy."
The report also warns that more should be done to help professionals learn from serious case reviews and to identify clear lines of accountability between local safeguarding children boards and children's trusts.
In addition, professionals should be given more opportunity to feed into national policy decisions on safeguarding, the report said.
Singleton admitted Lord Laming's recommendations were starting to make a difference on the ground. But he warned there was more to be done.
"The excellent work being done by many professionals who protect thousands of children each year is not yet universal," he explained.
"Going forward we need to focus on securing adequate resources, learning from serious case reviews, improving professional practice and working more closely with all the relevant parties to keep children safe. These responsibilities cannot be parked at any one door — we all need to step up to the plate."
The publication of the report comes as the government announced extra funding for local authorities to reduce pressure for frontline social workers.
Responding to Singleton's report, Children's Secretary Ed Balls said: "In his report Sir Roger identifies funding as an area of concern. This is due to the rise in demand for children's social care putting further pressure on frontline services.
"Today's additional funding announcement is the first step in responding to this concern and to the rising pressure on local areas, particularly the hardest pressed children's services."
