The best ever success for Audaz came about in the 1987–88 season with president Teofilo Oyola Cevallos, when they finished 3rd in the Ecuadorian league, only losing out to Barcelona (Guayaquil) and Filanbanco (Milagro, Guayas).

That season Audaz was renowned as especially strong at home, beating, among others, El Nacional, Barcelona and Emelec.

In March 2006 the club ceased to exist due to financial problems, having been in debt of more than 130,000 US dollars.

The city of Machala was left without a professional soccer team for the first time since the foundation of Audaz in 1948.

For the 2007–08 season the club was reformed, and now plays in the provincial "second division" of El Oro province, a third-level league.