The Australian Labor Party's peak council is being challenged to reveal its finances and decisions in a campaign against secrecy and conflicts of interest, setting up a test within weeks for the "faceless men" who control the party.

The new push seeks to expose the party's national executive to greater scrutiny and tougher governance rules, assuring voters the safeguards will be in place before the next election.

Labor's Left faction began the campaign last Saturday by airing four key principles to change the way the "board of directors" runs the organisation, something that is done almost entirely in secret under current rules.

Outgoing Labor president Mark Butler and parliamentary leader Bill Shorten. Credit:Alex Ellinghausen

In a proposal that drew cheers from delegates to the Melbourne meeting, the faction has agreed to seek a new approach to conflicts of interest and will campaign for the change to the party rules at Labor's national conference in Adelaide in December.