Liberal Party chiefs have put in place new financial checks after criticism by a senior party official.
Honorary treasurer Philip Higginson wrote in a letter leaked to the media last month that the party's finances were "teetering on the edge of an abyss".
He feared the party's "much diminished brand" and leadership squabbling was damaging the prospects of raising money from major donors.
The party's federal executive, which met in Canberra on Friday, decided to put in place an audit and governance committee for reviewing financial statements.
But party president Richard Alston said the meeting had received an unqualified audit report and had been told party fundraising is "well above budget".
"A number of recent media reports have contained statements on the party's fundraising and budget management that have no foundation whatsoever," Mr Alston said in a statement.
He said the internal changes would allow the party to focus on supporting the Abbott government and getting it re-elected.
The meeting also discussed ways to encourage more female candidates for elections.
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