Logistics provider Australia Post will face a one-month long investigation into the business’ culture of gifting and expensing at the top levels of management.

While the investigation was announced last week, the Federal Government has now laid down the terms of reference for the communications department’s inquiry, with a focus on the fact four senior executives were gifted watches worth almost $20,000.

However, it will not focus on the almost $97 million in bonus payments across the business – a missed opportunity, said Greens senator Sarah Hanson-Young.

“No one working in the public service should be taking home multi-million-dollar salaries and paid bonuses,” Hanson-Young said.

“It’s not just the Cartier watches that are the problem. It’s Australia Post becoming a quasi-private, quasi-public organisation that is now out of step with community expectations.”

Last week, CEO and managing director Christine Holgate said she would stand aside during the investigation, with CFO Rodney Boys to act in the role for the investigation period.

“Australia Post will continue to participate transparently in Budget Estimates 2020-21 processes, including to review the proof Hansard transcript of evidence when it is made available and to respond to questions on notice, and will… also fully cooperate with the recently announced investigation to be conducted by shareholder departments,” Australia post chair Lucio Di Bartolomeo said in a statement on Friday.