a$.$ LO $4\mathrm{.}4$ The most significant result of the Continental Vending case was that it:

$(1)$ Created a more general awareness of the possibility of auditor criminal prosecution.

$(2)$ Extended the auditor$$s responsibility to all information included in registration statements.

$(3)$ Defined the CPA$$s responsibilities for unaudited financial statements.

$(4)$ Established a precedent for auditors being held liable to third parties under common law for ordinary negligence.