The closure of Remploy in Leven and Cowdenbeath is being investigated by the National Audit Office (NAO).
Both factories closed recently with the loss of 65 jobs after no offers were made for what Glenrothes and Central Fife MP Lindsay Roy deemed a potentially viable business.
However the NAO has confirmed it is reviewing the commercial process involved and expects to publish its report early next year.
Mr Roy said: “I am deeply worried that there seems to have been a change to the initial agreement between Remploy and Ocean Safety (who bought lifejackets manufactured there) over certain intellectual property rights.
“With a share in these rights, the so-called open approach to best and final offers for the sell-off appears to be a sham. With part of these rights, Ocean Safety was in a particularly advantageous position to take over the business without putting in formal bid.”
Mr Roy added he hoped the report would shed light on what “many consider” a flawed process.