Professional Experience
Paraag Rasik Devani is a distinguished partner at Grant Thornton LLP Kenya, bringing a wealth of experience and expertise to the firm. He is a Fellow of the Association of Chartered Certified Accountants UK (FCCA), a Fellow of the Institute of Certified Public Accountants of Kenya (FCPA(K)), and a member of the Institute of Certified Public Secretaries of Kenya (FCPS(K)).
Paraag's professional journey began with a medium-sized local audit firm, followed by a significant tenure at Coopers & Lybrand, where he served as the Audit and Tax Manager. In 1992, he co-founded Devani-Devani and Company, which he successfully operated until its merger with Grant Thornton LLP Kenya in January 2025.
With extensive experience in auditing, taxation, company secretarial matters, insolvency, accountancy, client investigations, share valuations, and computerization, Paraag has been a pivotal figure in the financial sector. He has been actively involved in planning and executing complex audit assignments for a diverse range of clients, from family-owned businesses to large international corporations.
In addition to its audit expertise, Paraag advises clients on taxation matters, company structures, financial management, and the incorporation of companies. His contributions extend to handling insolvencies, conducting special investigations, performing share evaluations, and providing training to staff on various technical matters.
Paraag has served on the Committee of the Institute of Certified Public Accountants of Kenya – Coast Branch (ICPAK – Coast Branch) for twelve years, two of which were as Chairman. He has also been a member of the Committee of the Institute of Certified Public Secretaries of Kenya Coast Branch (ICPSK – Coast Branch) for three years.
Beyond his professional achievements, Paraag is deeply committed to philanthropic endeavors. He is currently the Trustee Chair of Sir Yusufali Charitable Trust, which supports education, vocational training, and medical assistance for needy causes. He is also an active member of Rotary International and has held several leadership positions within the organization.
Paraag's guiding philosophy is to be a thorough professional with a clear vision of goals, maintaining honesty, ethics, and justice at all times. He believes that true leadership is about making others better through one's presence and ensuring a lasting impact in one's absence.
Professional qualifications
Audit: Practising member of the Institute of Certified Public Accountants (ICPAK). Extensively involved in the planning and execution of audit assignments varying in complexity and responsibility from director owned family companies to large subsidiaries of foreign owned international clients and local quoted companies.
Taxation: Advising clients on taxation matters and assisting them on tax planning.
Company Secretarial: Practising member of the Institute of Certified Public Secretaries. Extensively involved in the incorporation of companies for clients, advising on company structures, advising, documenting and registering changes in company shareholding, directors, registered office, company name change, share capital structure, as well as alteration of Memorandum and Articles of Association and other related matters.
Financial Management: Advising clients on sources of finance and capital requirements, handling of cash flow forecasts and budgets and setting up clients computerised accounting systems.
Representation on committee of professional bodies:
- Served on the Committee of Institute of Certified Public Accountants of Kenya – Coast Branch (ICPAK – Coast Branch) for a period of twelve years, two of which were as the Chairman of the Committee.
- Served on the Committee of the Institute of Certifired Public Secretaries of Kenya Coast Branch (ICPSK – Coast Branch) for a period of three years.
Other achievements and positions held:
- Currently the Trustee chair of Sir Yusufali Charitable trust. The trust generates rental income and utilises the same towards charitable donations for worthy, but needy causes mainly in the fields of education, vocational training and medical assistance. The Trust currently supports the education cost of approximately 300 students annually.
- Have been a member of Rotary International and have served in several positions over the years, including as advisor to the District Governor, heading the Group Study Exchange programme in sending out teams from the East and Central African region to various parts of USA and Europe as well as hosting visiting teams from those areas;
- Past Chairman of Mombasa Jaycees, an organisation for the youth dealing in charitable activities;
- Current Treasurer of the United Sports Club, Mombasa
- Past Treasurer of Mombasa Sports Club (four years)
- Regularly attending ICPAK and ICPSK seminars. Have been a presenter at ICPAK seminars
