Indiana has three days to decide whether to appeal or accept the findings, meaning that Knight will be on the bench tonight when the Hoosiers begin the Big Ten Conference tournament.
The Herald-Times reported that the Big Ten cited Knight for violations of its unsportsmanlike conduct code.
Knight called the officiating in Indiana's loss to Illinois last week "the greatest travesty" he has ever seen as a college coach. He received three technical fouls and was ejected by referee Ted Valentine.
North Carolina's Antawn Jamison and Vince Carter and Arizona's Mike Bibby and Miles Simon are among 15 finalists for the John R. Wooden award given to college basketball's top player.
Kansas also has two finalists in Raef LaFrentz and Paul Pierce. Other finalists are Chad Austin of Purdue, Michael Doleac of Utah, Pat Garrity of Notre Dame, Richard Hamilton of Connecticut, Matt Harpring of Georgia Tech, J.R. Henderson of UCLA, Trajan Langdon of Duke, Ansu Sesay of Mississippi and Bonzi Wells of Ball State.
The top five vote getters will be invited to the trophy presentation April 3 at the Los Angeles Athletic Club.
A promising season at Northern Iowa ended with a 10-17 record and the coaching resignation of Eldon Miller after 12 years at the school.
Miller, 58, leaves with a 164-178 record and one NCAA tournament appearance. He has a career record of 568-419.