Maybe materiality for the PO in accounting terms started at £100k - £1m. Anything under that would not affect the finances and could be assumed to be to do with timing differences etc. Maybe it was 'only' £100k. either of those sums of course is material to a typical SPM.
Neither does a near total balance give much of a clue to the size of the errors when there are compensating ones. That's why they have to be found, not just put down to human error/theft. The whole thing is beyond comprehension.
The system was known to be riddled with bugs at launch.
Mildly informative article
www.theguardian.com/uk-news/2024/jan/09/how-the-post-offices-horizon-system-failed-a-technical-breakdown
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