23/03/21 | Senate Estimates | Environment & Communications - Australia Post Investigation

Senator VAN: A quick preamble: on 22 October the shareholder department commenced an investigation supported by Maddocks, the law firm, into the gifting of Cartier watches to four executives at Post in November 2018. The investigation was completed on 20 November last year and made 12 findings. Mr Boys, what changes has Australia Post made following that investigation?

Mr Boys: Thank you for that question. We didn't wait for the investigation, frankly. On 22 October we launched our own internal review of a large number of processes from those matters that were raised on the events of the 22nd. We had around 32 findings, if I recall correctly, that came out of that review largely around the use of credit cards, gifts, benefits, hospitality and reward and recognition. And I'm very pleased to say that we've implemented already 26 of those recommendations and the remaining ones are in the process of being implemented. So that's of our internal review. The findings of the Maddocks report which we received some time later largely concurred with our own internal findings; so we've removed a number of credit cards. We've lowered limits on other credit cards. We've removed the Office of the CEO credit card, for example. We've tightened up on our reward and recognition policy and we've introduced lower limits. We already had limits for gifts, benefits and hospitality declaration. We've lowered those limits considerably in recent months.

Full transcript here.