In the wake of corporate scandal and concerns over money laundering, transparency has become a global buzz word.

But there is concern from some sectors that the push for transparency could go too far.

On a recent visit to the Island, Peter Hammonds, international president of the Institute of Chartered Secretaries and Administrators (ICSA), said he would not not "slavishly" support transparency.

Mr. Hammonds - who is also the executive chariman of Conistertrust plc, an asset finance consultancy with a bank license on the Isle of Man and listed on the London Stock Exchange - said it was important to balance the need for public accountability with a desire to keep things that should be private, private.

"There have to be checks and balances," he said.

Mr. Hammonds was visiting Bermuda to meet with members of the Bermuda branch of the ICSA, with some 75 local members working in management positions throughout the legal, accounting and public sectors.

While on the Island he also met with the Governor Sir John Vereker and Munro Sutherland, Bermuda Monetary Authority's superintendent of banking, trust and investment.

Mr. Hammonds said the purpose of his meetings with Sir John and the BMA were to "discuss the issues of the day" including corporate governance and best business practice.

As for Bermuda, Mr. Hammonds said the Island was at the "leading edge of best practice."

He added that although Bermuda has the international reputation as a first rate business jurisdiction, he had seen evidence of that during his visit.

For Bermuda, he said that would mean that when international issues arose the Island would be able to "lobby from a position of strength".

The ICSA, which offers designations as Graduate, Associate and Fellow, is currently revamping its syllabus. Mr. Hammonds said this was to "keep the syllabus relevant for the needs of employers today and focusing much more on the area of corporate governance."

At the moment local ICSA members may have gained their designations from the UK or Canada. Although distance learning courses are available, Michael Ashford, a corporate manager at CD&P affiliate Codan Services, who has been involved with the Bermuda branch of the ICSA since the 1980s including being chairman of the Bermuda branch of the Canadian Institute, said there are plans to, in future offer ICSA courses locally.