Australia set to rejoin commonwealth body

Australia may soon re-join an international body which has been criticised for failing to properly manage its finances and accountability.

The Commonwealth Parliamentary Association was set up in 1911, with Australia, Canada, the then-self-governing Newfoundland, New Zealand, South Africa and the United Kingdom as its founding members.

However, Australia pulled out of the association over concerns relating to "governance, transparency and financial accountability", Senate President Stephen Parry told a committee hearing in Canberra on Monday.

Senator Parry said he had visited London in April to talk to CPA officials, auditors and lawyers about reforms to the operation of the association.

A meeting is to be held in June with MPs to discuss whether to re-join.

"I'm satisfied that the CPA has changed its direction dramatically and I will be putting that to the meeting," Senator Parry said.

"If there's a willingness and acceptance by this parliament we will put in place arrangements to re-join."