A licence is good for five years. There is a renewal process that takes place. The CFO then typically looks at the intervening five years between licensing, but is presently entitled to go right back to day one if they so choose. The ability of the CFO to go back in history to vet a potential firearms licence renewal is not limited.
Again, the CFO would go through a similar process of collecting information on the individual and making decisions at various stages as to whether they plan to accept, reject or investigate further.