Accountant’s ascent

Reflecting on the past 44 years of his accountancy firm Patel and Company, founder Russi Patel wrote in an email message to Parsiana, "It gives me great joy to see that the firm that started in a small wind tower in Sharjah with one staff (member) has now grown into six offices with eight partners and a staff of over 70… Our UAE firm has been the pride and joy of my existence and I have dedicated my entire professional career to its growth and achievements.”
After establishing his Sharjah office in 1968, the following year Patel set up another one in Deira, Dubai. "At that time Deira was the key location, albeit a very small one. Many young businessmen and professionals greeted one another almost every day as they walked to work. It was indeed a beautiful, tight-knit community where everyone knew each other. A great sense of camaraderie prevailed at the time,” he reminisced. Once he opened his main office in Dubai, he started a small practice in Hodeidah and Taiz in North Yemen, to be followed by an office in Muscat, Sultanate of Oman. A major breakthrough for him was the appointment of Patel and Company as the UAE representative of BDO International, a worldwide network of public accounting firms, in 1975. As their liaison partner, Patel is responsible for the coordination of all international client work in UAE for BDO that is currently the world’s fifth largest international accounting organization. In fact his contribution to the accounting major earned him the BDO medal in 1993, a recognition he values.
Founder member and chairman for more than one period of the Dubai Chapter of the Institute of Chartered Accountants of India, last year his services to this organization were recognized with an award conferred by Dr Veerappa Moily, union minister, Government of India.
"Ever so glad to have made the right move by coming to the United Arab Emirates,” Patel is "a firm believer that the development process is one that never stops.” Prior to relocating in the UAE Patel and Company had established its presence within the professional and business community in Aden. In the aftermath of political unrest when certain expatriate businesses serviced by Patel and Company found themselves in a difficult situation they warned Patel of possible reprisals against him which made him flee to North Yemen with only his briefcase in hand. Fortunately he had already obtained a professional auditor’s license in Sharjah (then part of the Trucial States) so with the support of some of his former Aden clients he was able to launch a new practice, requesting clients to pay their fees in advance as he had no working capital.
Subsequently he also qualified and earned a license to practice public accountancy in Texas, USA. He is a certified member of the Institute of Financial Consultants, and a recognized member of the Institute of Management Accountants, the Offshore Institute and International Tax Planning Association. Bombay born Patel’s early education was in Bulsar after which he completed his schooling from Bharda New High School. He then studied commerce at Siddharth College and trained as a chartered accountant under his uncle Cawas Dhanbhoora who had offices in Bombay and Aden.
"I have always greatly appreciated the tremendous support from my wife Nergish and our three daughters Rati (in Delhi), Roshan and Meher (both living in Houston),” states Patel. A member of the Middle East Chapter of the World Zarathushti Chamber of Commerce, Patel has striven to protect the interests of Zoroastrians working and residing in Dubai and other parts of the world.