Cameron, who claims a successor to Terry Butcher is unlikely to be named next week, revealed there has been interest in the vacancy from as far as Italy, Spain and South America.
In a statement on the club's website, Cameron said: "The update to keep our supporters informed is that we have been inundated with applications for the job.
"Contrary to suggestions, there is no deadline for applying. The board has decided to take its time and no one has been contacted yet about the vacancy.
"We will focus on drawing up a shortlist at some point next week before setting about conducting interviews.
"It now appears unlikely that this process will be completed in time for the game with St Johnstone at Inverness next weekend.
"That being the case, then former Scotland player Duncan Shearer and fellow youth coach Scott Kellacher will take charge in that game.
"We're pleased with the calibre of applicants but our priority is to make the right appointment and that will take time."
Butcher, and his assistant Maurice Malpas, quit Inverness after almost five years on Monday to take over as the manager of SPFL rivals Hibernian.
The former England and Rangers defender leaves the Highlanders second in the table and in their second successive Scottish League Cup semi-final.