That’s what he will be telling Financial Services Committee today. It is understood that the former Lehman chief executive will deny that he knew anything about the questionable accounting techniques when he confronts the committee called to examine the events surrounding the bank’s collapse.

According to reports, Fuld will tell the US House of Representatives financial sevices committee that he knew nothing of “repo 105”, the accounting practice that the bankrupt investment bank was accused of using to hide its most toxic assets.

He will also say this (from a copy of Fuld’s written testimony, reviewed by Deal Journal at WSJ):

I have recently learned that, in 2000, the Financial Accounting Standards Board published detailed accounting rules for transactions of this very type, described them and dictated how they should be accounted for. In 2001, Lehman adopted a written accounting policy for Repo 105 transactions that incorporated those accounting rules. E&Y, the firm’s independent outside auditor, reviewed that policy and supported the firm’s approach and application of the relevant rule, FAS 140.

And this:

Part of that process was E&Y’s role in auditing our financial statements and reviewing our quarterly and annual SEC filings. Each year, E&Y issued formal opinions that Lehman’s audited financial statements were fairly presented in accordance with GAAP, and they were.

Read the whole testimony>

We expect one or two people at E&Y will be watching with interest.