What concept is Delta explaining when she discusses the completeness and neutrality of financial statements under IFRS?

The concept Delta is addressing when discussing the completeness and neutrality of financial statements under IFRS is faithful representation. Faithful representation is a fundamental qualitative characteristic in accounting that requires financial statements to accurately reflect the economic phenomena they purport to represent.

Completeness ensures that all necessary information is included in the financial statements, allowing for a comprehensive view of the financial situation. On the other hand, neutrality means that the information presented is free from bias, and it does not favor one set of stakeholders over another. Together, these aspects ensure that users of financial statements can rely on the information presented to make informed decisions regarding the financial position and performance of the entity.

The other options, while relevant to financial reporting, do not encapsulate the combination of completeness and neutrality as thoroughly as the concept of faithful representation does. Going concern relates to the assumption that an entity will continue its operations in the foreseeable future, comparability refers to the ability to compare financial statements across different entities, and financial transparency broadly addresses the clarity and openness of financial reporting, but does not specifically focus on the characteristics of completeness and neutrality.