Ms Giuffre accused Jeffrey Epstein of forcing her to have sex with the royal at the age of 17. Last March, the civil case brought against the Duke of York by his accuser Ms Giuffre was settled out of court by the royal who rejected claims of wrongdoing.
The signing of the papers by US district court judge Lewis Kaplan saw the end of the legal claim but is not an acceptance of liability by Andrew.
The settlement was of an unspecified amount which was paid to both Ms Giuffre and to her charity.
At the time, the Duke of York vowed to “demonstrate his regret for his association” with sex offender Jeffrey Epstein.
The scandal saw the royal stripped of his royal patronages and military titles as well as the use of His Royal Highness.
It was reported that Queen Elizabeth helped Prince Andrew pay the settlement with her private funds.
The Treasury was forced to state that “no public money has been used to pay legal or settlement fees”.
Now a source has told The Independent that the former monarch advised her son to undertake charitable work in a bid to reclaim his active position in the Firm.
A source told the news outlet: “Andrew’s mother suggested the route forward was taking on a charitable cause.
“Other members of the family agreed and saw it as his only way to rehabilitation.”
According to The Independent, allies of the prince are concerned that the royal is struggling to deal with the scandal and his lowly status within the Royal Family.
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They also noted that the royal may be financially unable to challenge the settlement with Ms Giuffre in what has been called a “high risk” attempt to clear his name.
The source said: “If he launches the bid, he’s looking at racking up more bills that could push him into debt.
“It’s a question of whether he has the funds to do that. The fear is it could be eye-wateringly expensive and leave him in a money pit.
“It’s a high-risk strategy to go from pay-out to another to seven-figure sum in an entrenched legal battle.
“The family is worried whether there could be enough money for it.”