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Malcolm Turnbull mocks Donald Trump in leaked Laurie Oakes video

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The Prime Minister, Malcolm Turnbull, has joined the worldwide lampooning of US President Donald Trump, roasting him over fake polls and having "a Russian guy" as a helper.

Mr Turnbull impersonated the US President at the Canberra press gallery's Midwinter Ball on Wednesday night.

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Turnbull impersonates Trump

The Prime Minister roasted the US President at the Midwinter Ball at Parliament House.

In leaked audio, Mr Turnbull can be heard cracking jokes about his meeting with the President in New York last month.

"It was beautiful. It was the most beautiful putting-me-at-ease ever," Mr Turnbull told guests at the ball.

"The Donald and I, we are winning and winning in the polls. We are winning so much, we are winning, we are winning like we have never won before."

Traditionally, the prime minister and the opposition leader of the day deliver satirical off-the-record speeches at the ball.

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But footage and audio of Mr Turnbull mimicking Donald Trump was leaked, causing a media frenzy over whether or not the Prime Minister might have angered the US President.

Audio appeared anonymously on Instagram and Nine Network political editor Laurie Oakes broadcast it on Thursday afternoon saying he was not bound by off-the-record tradition as he did not attend the ball.

Fairfax Media photographer Andrew Meares - the president of the Federal Parliamentary Press Gallery - said it was disappointing the audio had been leaked.

"The Midwinter Ball is a private event hosted by the Federal Parliamentary Press Gallery and attended by guests from all parties and corporate sponsors. The Ball has raised over $3.8m for charity since its inception," he said.

"Our guest speakers, the Prime Minister and the Leader of the Opposition, speak on the understanding that their words remain 'off the record'.

"The event has a long tradition of being a light-hearted evening with a strong tone of self deprecation. The leaders' speeches this year reflected this sentiment brilliantly. 

"The Ball Committee is disappointed that some guests at the Ball have not complied with the non-publication request."

Imitating the US President, Mr Turnbull told a laughing audience that polls were "so easy to win... I have this Russian guy".

After the speech was leaked, Mr Turnbull said his comments were light-hearted, affectionate and that he was the main butt of his own jokes.

Speaking on Melbourne radio station 3AW, he expressed mock outrage at the leaking of his speech to the charity ball which over the years has raised $3.8 million for various causes.

"It's a breach of protocol, it's a breach of faith," he said. "Next year I expect to read selected passages from Budget Paper No. 2."

The US Embassy in Canberra issued a statement: "We understand that last night's event is equivalent to our White House Correspondents' Dinner. We take this with the good humour that was intended."

The Nine Network moved quickly to turned the Prime Minister's satirical turn to its own advantage. Minutes before Mr Turnbull went on air, 3AW broadcast an advertisement for National Nine News telling listeners to make sure to listen to the PM's "bombshell tape".