The industrial watchdog is expected to release a statement on Tuesday giving an update on its investigation into the financial management of the Health Services Union's national office, which Mr Thomson headed between 2002 and 2007 before entering parliament.
It's been alleged Mr Thomson misused a union credit card for prostitutes, lavish meals and cash withdrawals - allegations he vehemently denies.
Two union colleagues, Michael Williamson and Kathy Jackson, also are the subject of the investigation.
It is understood FWA general manager Bernadette O'Neill has received the investigation report and is now finalising what action she will recommend.
Speaking outside his NSW central coast home on Tuesday, Mr Thomson told reporters he had been given no formal indication when the report would be released.
However, he doubted the final report's release was imminent.
"We are not holding our breath," he said.
Mr Thomson said he understood that he and his lawyers would be shown the findings before the report was formally released.
"And we haven't done that," he said.
The backbencher took a shot at the coalition, which has been critical of the time it has taken to investigate the matter.
"We are in uncharted waters. We haven't seen as much pressure put on an independent body as we've seen from the opposition in relation to this, so we really don't know how they are going to act," he said.
"Let's hope we can end this soon."
The inquiry into the matter began in April 2009 following newspaper reports and the investigation started in March 2010.
Earlier on Tuesday, Attorney-General Nicola Roxon said the investigation had taken "longer than we would have liked", but reaffirmed it was an independent body.
"They can conduct their inquiries as they need to according to the law," she said.
"I think there would be outrage if there was political interference in that process."
Liberal senator Simon Birmingham says the saga has dragged on for three years.
"If this report is finished ... it either needs to be released publicly immediately or, if prosecution is to be pending, it needs to be referred to the Director of Public Prosecutions immediately," he told Sky News.
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