Cousin, 31, agreed a £3m move to Fulham during the January transfer window but has already played for two teams this season and may not be allowed to feature for a third. FIFA rules only permit a player to play for a two teams in a season, but a high-profile exception was made for Liverpool midfielder Javier Mascherano who had already played for both Corinthians and West Ham.
"Surely they are going to have to make a decision this week," said Smith. "It's not a difficult decision to make - they either say yes or no and then we all get on with it."
Cousin scored in Sunday's 4-2 victory over Gretna but is understood to be keen for FIFA to rubber-stamp his move to the Premiership.