What requirement is stated regarding components of a complete set of financial statements?

A complete set of financial statements is designed to provide a comprehensive view of an entity's financial performance, position, and cash flows. This set typically includes multiple key elements, among which the statement of profit or loss holds a critical role.

The statement of profit or loss reflects the entity's financial performance over a specific period, detailing revenues, expenses, gains, and losses, ultimately leading to the calculation of net profit or loss. This component is fundamental in assessing the profitability of the entity and offers essential information to stakeholders, including investors, creditors, and management, about how well the entity generates profit relative to its expenses.

While cash flow forecasts and budgetary forecasts can provide insights into an entity's future financial health, they are not required components of a complete set of financial statements according to the International Financial Reporting Standards (IFRS). Moreover, there are more than five components typically included in financial statements, which would contradict the notion of including fewer than five components as a requirement.

Therefore, the statement of profit or loss is indeed a mandatory inclusion in a complete set of financial statements, making it the correct choice in this context.