i have to apologize for jumping to the audio chip conclusion.
upon re-reading your original post today, i see that you did not mention whether or not you had receive audio.
im guessing that you do.
if so, that means the audio chip is not at fault. sorry for not reading this closer and asking you this question before offering advice.
assuming you do indeed have receive audio, then the next place to look is in the mic amp circuit.
check TR17 which is a 2SC458 transistor. you can check to see if it has voltage going to its base leg by putting a DC voltmeter on it while the radio is on. (negative lead from the voltmeter to PC board ground foil of course)
the legs of this transistor are ECB looking at the flat side of the transistor, so you would be wanting to test the leg on the right.
you should see voltage on this leg. about 1.5 volts in RX and TX.
if you do not see any voltage there, check R70, and you may find that it is open, meaning that if you tried to test it with your ohmmeter, it would show no connection between the two leads. you should remove it from the PC board to test it.
if you did see the 1.5 volts on the Base leg, then check the middle leg which is the Collector. you should see about 4.8 volts on RX, and 7.7 volts on TX.
if the base volts were there and the collector volts are not there, or are way off from what they should be, you can either remove TR17 from the board and test it using the diode function of your multimeter (google this), or you can just replace it if you have a sub on hand. you can use an NTE 85 if you cant find a 2SC458.
if the collector volts are good, then check the Emitter leg on the left.
should be .9 volts on RX and 1.5 volts on TX.
again, if way off or missing, test or replace the transistor.
if all goes well with TR17, start checking the caps and resistors near it and post back what you find.
LC