Yes the man can move on with life...unless he chooses to let the episode eat it up.
None of us forgets the wrongful judgements made against us unfairly in life...but we do move on..life is going to bring them no matter how clean living you are. In fact expect it. I’ve had my share from people in the workplace to drivers giving me the bird when they thought I was in the way. I’ve been thru the court system on a property dispute which I lost for the politics in the community and who knew who better than I. Fair no...humiliating yes. Felt it and moved on...and we all must..but we don’t forget either.
In this day and age, no man should take any chances and it’s a fairly simple thing to avoid being charged with impropriety. Just resolve to never be alone with a child.
I know men at church who will not be in a situation where they would appear to be alone with a married woman other than their wife. It’s all to avoid the very appearance of evil, and it does offer protection for them. If one of those men were accused or something improper, I would not give it much if any credibility because I’ve seen how circumspect they are in their behavior.
Besides, it would be much easier to catch a child in a lie than an adult. The child would not be able to give such a consistent testimony if it weren’t true. They’re just not good of a liar to be able to manage all those details and stick to the story without error.