Probing for weakness in public companies

The same words occur again and again in Seattle-based Loudeye's report on its internal financial controls. Words like "insufficient" (14 times over 10 pages) and "deficiency" or "deficiencies" (29 times).

Not exactly the way a company likes to refer to itself. But a new federal rule requires Loudeye, like other publicly traded companies, to assess its internal controls — essentially, how it manages the flow of money and information among its layers and divisions.

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