Australia Post has admitted the four Cartier watches spent on senior staff totalled $19,950, not the $12,000 originally revealed.
Chief executive Christine Holgate was stood aside pending a review into the purchase of the gifts after telling an estimates hearing they were a reward for securing a deal to do banking in post offices.
She originally said the four watches cost a total of $12,000.
But on Friday Australia Post Chair Lucio Di Bartolomeo said he had been made aware of "further details of the purchases" and wished to clarify the record "as a matter of urgency".
He said the four items were purchased in November 2018 at a cost of $7000, $4750, $4400 and $3800, coming to a total of $19,950.
Mr Di Bartolomeo said Australia Post will continue to participate transparently with the budget estimates process and fully cooperate with the investigation to be conducted by the federal communications and finance departments.
Prime Minister Scott Morrison told the parliament on Thursday the gifts were disgraceful and appalling and demanded Ms Holgate step aside.
On Friday, it was also revealed chairman of the corporate watchdog ASIC, James Shipton, had stood aside pending an investigation into $118,000 in expenses, which he has pledged to pay back.
Australian Associated Press