The "Continental Vending Machine" court decision was a landmark ruling because:

It authorized CPA firms to both prepare a client's financial statements and then audit these same financial statements

It held that, for consistency, all financial statements must comply with GAAP, regardless of the industry in which a company operates

Auditors can be held liable for misconduct, even if financial statements comply with GAAP

Auditors may recoup from an audit client all of the litigation losses that the auditor sustains from certifying misleading financial statements if the audit client solely was responsible for the statement presentation being misleading