FA chairman David Bernstein calls for answers with regards to the "serious allegations" made concerning four executive committee members and alleged World Cup 2018 voting bribes
James Dingemans QC will investigate Lord Triesman's claims, made on Tuesday under parliamentary privilege, to ascertain any validity in the corruption allegations.
Bernstein said: "It is essential that we determine as soon as possible the weight of evidence behind these serious allegations.
"If Lord Triesman's allegations can't be supported I suppose they will die a death because unsupported allegations will not take anyone very far.
"If the allegations are to stick with Fifa they need to be supported."
Four members of Fifa were accused by Triesman including the organisation's vice-president, Jack Warner, Paraguay's Nicolas Leoz, Thailand's Worawi Makudi and Brazil's Ricardo Terra Teixeira.
The Fifa presidential elections are due to take place next week, with incumbent Sepp Blatter and challenger Mohammed Bin Hammam the only two candidates and Bernstein suggests the FA may choose to abstain from voting.
"We will look at the recent events and take that on board," Bernstein continued. "There are two candidates and three possible decisions, the other being that we will abstain.
"Lord Triesman has not made accusations directly about the two people and there is no evidence to suggest they are not clean."
Bernstein also hopes that recent happenings may promote more openness within football's bureaucracies.
"The key thing is openness in process, in financial information, in the election procedures," he said. "Fifa is a very closed organisation and a lot goes on behind closed doors."'