Ayau has also served on the board of directors of several different companies, including IBM in Latin America and the Guatemalan local stock and debt exchange, of which he was founding president.

[citation needed] In 1959 Ayau founded the Center for Economic and Social Studies in Guatemala, to analyze the fundaments and philosophy of free society.

He was on the board of directors of the Liberty Fund in Indianapolis[1] and he was also a trustee of the Foundation for Economic Education in New York.

[citation needed] Twice he has formed part of the central bank council and has been president of two different commercial banks, vice-president of the National Electrification Institute, trustee of the Philadelphia Society, and honorary member of the engineering society "Tau Beta Pi".

He has been published widely in Guatemala and Latin America, as well as in the US, including in "Vision", "The Wall Street Journal", and "The Freeman".