Saeed, 50, of Walnut, Calif., was accused of taking those actions while he worked as an independent contractor for Kabani & Co. in that firm's office in Los Angeles, Calif. The SEC said that in the case of The Harcourt Companies and NetSol Technologies Saeed was supposed to perform concurring partner reviews. However, in the case of Harcourt's financial statements for May 21, 2008 and NetSol's statements for June 30, 2008 he failed to perform concurring partner review procedures until after the clients filed their 10-K forms with the SEC.

In the case of Harcourt, his concurring review comments were sent to the firm's staff on Sept. 23, 2008, three weeks after Harcourt filed its 2008 10-K. His comments concerned what were described as "significant omissions and deficiencies in the Harcourt work papers related to basic planning and substantive audit procedures." However, he backdated the comments to Aug. 29, 2008.

Similarly, while NetSol filed its Form 10-KSB on Sept. 19, 2008, Saeed did not perform his review until later and then sent his comments on October 3, but dated them September 15. He also sent the firm a signed "PX-14: Supervision, Review, and Approval Form" work paper indicating that he had completed his concurring partner review by September 15.

The PCAOB reported that in Saeed 2009, Saeed decided not to perform further firm-assigned work, and has not since worked at or with the firm