Repo 105

"In a statement, the Accountancy & Actuarial Discipline Board said it's probing the firm's conduct in relation to the preparation and audit of Lehman's accounts for the fiscal year ended Nov. 30, 2007. It's also reviewing the accounting treatment of transactions known as 'repo 105' and 'repo 108.'
Lehman used these transactions to temporarily lower its apparent leverage and remove as much as $50 billion from its balance sheet, according to a report by a court-appointed examiner earlier this year. See story on how repo 105 worked."