The company charged with administering millions of Australian internet domain name registrations faces the axe if it can not undertake significant reform, following a months-long review of its operations.

A review into the administration of the .au top-level domain, the findings of which will be released by the Turnbull government on Wednesday, found that the company’s membership model and lack of checks and balances had impeded its decision making and made it unstable.

Communications Minister Mitch Fifield says auDA needs to change its ways. Credit:AAP

In a statement, Communications Minister Mitch Fifield echoed the review's findings that the organisation was not fit-for-purpose, and would need to make significant changes to maintain its authority.

The review’s findings include 29 recommendations to bring the operation of .au more into line with the needs of Australian internet users, including increased transparency, greater representation of stakeholders and requirements for conflict of interest checks.