The FA is awaiting further details of conversations Allardyce held with undercover reporters after the emergence of video appearing to show the recently-appointed England manager making a variety of controversial comments.
London newspaper The Daily Telegraph has reported Allardyce used his position as England coach to negotiate a £400,000 ($679,000) deal and advised business men on how to 'get around' FA rules on player transfers.
The veteran coach is believed to have met with undercover reporters posing as a business consortium who claimed they wanted to bring overseas players to England.
The bogus businessmen laid on a series of lavish dinners and hotel receptions for high-profile football people, including Allardyce.
The 61-year-old was announced as England coach in July after the departure of Roy Hodgson.
However, just 66 days after being appointed, his role with the FA is in question after the Daily Telegraph's investigations team secretly filmed him.
Allardyce was also captured making controversial comments about his predecessor Hodgson, calling him 'Woy', the mentality of England's players and the decision of the FA to redevelop Wembley.
"We have asked The Daily Telegraph to provide us with the full facts in relation to this matter," an FA spokesman said.
