Which of the following is NOT a key principle of International Financial Reporting Standards (IFRS)?

International Financial Reporting Standards (IFRS) are designed to provide a global framework for financial reporting that enhances the transparency and comparability of financial statements across different companies and countries. Among the key principles of IFRS are consistency, relevance, and comparability.

Consistency ensures that companies apply the same accounting policies across periods, which helps users of financial statements to better understand the financial performance and position over time. Relevance means that the information presented in financial statements must be useful for decision-making by stakeholders, such as investors and creditors. Comparability allows users to identify similarities and differences across financial statements of different entities, which enhances their ability to analyze financial performance and make informed decisions.

Complexity, on the other hand, is not a principle of IFRS. While financial markets and reporting standards can indeed be complex, IFRS emphasizes clarity and understandability to aid users in grasping the information presented. Therefore, the statement about complexity does not align with the fundamental principles that IFRS seeks to uphold, distinguishing it as the correct answer to the question.