The Gers chief executive has embarked upon a 120-day restructuring project in an attempt to reduce losses at the Glasgow institution, who confimed last night that controversial finance director Brian Stockbridge had left the club "by mutual consent".
And last week he caused controversy when he sounded out the players about accepting a 15% cut in their pay for a year-and-a-half.
Former director Dave King has criticised his decision to target the first-team squad as they make their way back up the leagues.
And Alex Wilson, who failed in his bid to be elected to the board at the AGM last month, also called for paid directors to accept reductions in their salaries first.
But McCoist has urged supporters to let the former Manchester City chief operating officer complete his review of the business.
He said: "Dave has an opinion which a lot of Rangers fans would, obviously, listen to. I don't have any doubt that our chief executive has ideas of what he wants to do and plans.
"Graham asked for 120 days and, after that period, he will more than anyone have an idea of where we want to be and how we are going to get there.
"Dave is 100% entitled to his opinion, but I would leave the decisions that affect our club at this moment in time to the chief executive of the board."
McCoist has held further meetings with Wallace this week and confirmed no enquiries had been received about his players from rival clubs.
But the Light Blues manager stressed he is focusing on helping his side, who take on Arbroath at Ibrox today, win the SPFL League One title.
He said: "I'm delighted that Dave is still interested in the club.
"We have always said, you never leave the club, you always watch and take an interest.
"But I think it is safe to say I can't get involved. People will discuss and have opinions, but my job is the football. I need to concentrate on that.
"There has been a lot of stuff in the past 10 days which had the potential to take my eye off the ball with the team, but I won't do that.
"I met Graham for two hours on Thursday and again on Friday afternoon.
"There was nothing concrete, we just continue to look at football matters."
McCoist has Ian Black and Arnold Peralta available for selection this afternoon after they completed one and two-game suspensions respectively.
Elsewhere, Cammy Bell, who missed the 2-0 win over Forfar Athletic on Monday night after his partner gave birth to a baby girl, is expected to return to the side.