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I think you can still stay as an associate member as long as want. However, there is no point of not upgrading yourself and become a qualified CPA after 5 years. From year 6, the CPA Associate membership fees is same as the qualified CPA membership fees. Furthermore, a qualified CPA sounds better than ASA anyway.
Membership renewal fees 2015 (AUD)
Associate (less than six years) $310
Associate (more than six years) 690
CPA or FCPA $690
For CPD purposes, ASA and CPA still have to comply with the same CPD hours. (i.e. 20 hours per annum and 120 hours for every 3 years). You can't skip this CPD thing as CPA may audit you and then you will need to submit those training details.
To be honest, it is not difficult to become a CPA as long as you can find a CPA or CA to sign the Practical Experience Requirement.
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