1969年美国continental vending Machine 案情谁知道,美国1969年发生的continental vending Machine 案件的大体情况,这个案件对审计界产生了什么样的影响?

1969年美国continental vending Machine 案情谁知道,美国1969年发生的continental vending Machine 案件的大体情况,这个案件对审计界产生了什么样的影响?
1969年美国continental vending Machine 案情
谁知道,美国1969年发生的continental vending Machine 案件的大体情况,这个案件对审计界产生了什么样的影响?

1969年美国continental vending Machine 案情谁知道,美国1969年发生的continental vending Machine 案件的大体情况,这个案件对审计界产生了什么样的影响?
a 1969 criminal court case commonly known as Continental Vending made “principles-based accounting” the law.
Continental Vending [U.S.v.Simon,425 F.2d 796 (2d Cir.1969)] was one of the first major criminal cases successfully brought against auditors.Charges against the auditors involved in the case included the violation of U.S.securities laws by certifying a document the auditors knew to be false.The auditors were engaged to audit Continental Vending Machine Corporation.A Continental affiliate,Valley Commercial Corporation,borrowed a large sum of money from Continental.Valley then loaned the funds to a dominant officer and significant shareholder of both Valley and Continental.The auditors learned that the dominant officer would not be able to repay Valley,and the auditors knew that as a consequence Valley would be unable to repay Continental.Nevertheless,the Continental financial statements showed the receivable from Valley as an asset,with only a relatively obscure footnote explaining the circumstances surrounding the receivable.
Continental never did collect payments from Valley on the receivable in question; in fact,Continental went bankrupt shortly after the financial statements were issued.When the U.S.government brought criminal charges against the auditors,the auditors maintained that they properly followed generally accepted auditing standards (GAAS) during the audit and that the footnote also complied with applicable standards.Moreover,several experts testified that the footnote disclosure explaining the receivable from Valley complied with generally accepted accounting principles (GAAP) and that the auditors had followed GAAS.