How to implement moderation of data entered through user profile pages?
What I've done in a similar situation was this:


Turn on moderation of users /admin/config/people/accounts ie:

Who can register accounts?
--> Visitors, but administrator approval is required
Install Views Bulk Operations https://www.drupal.org/project/views_bulk_operations
Create a view that shows the moderated users by default (but you can use an exposed filter to change this). Include the fields that you want the administrator to be able to see (your text entry and taxonomy referred to above). Set your view to the VBO options and enable the operations for approving (or blocking) users.


Hope this helps!