IRB is the initials of the designer (Ian Rank-Broadley) of the Fourth Portrait of Queen Elizabeth II used on many coins of the Commonwealth countries, including Australia.
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IRB on Australian Coins stands for Ian Rank-Broadley, the British sculptor who designed the effigy of Queen Elizabeth II that has been used on Australian coins since 1998. This effigy is known as the "Fourth Portrait" of Queen Elizabeth II and is featured on various denominations of Australian coins. The IRB initials can typically be found below the Queen's neckline on the obverse side of the coin.
IRB stands for Ian Rank-Broadley, the designer of the effigy of Queen Elizabeth II that appears on Australian coins. So, when you see IRB on an Australian coin, it's just a fancy way of saying "Hey, this is the artist behind the Queen's face on your spare change." Now you know, but does it really matter? Not really. Just keep spending those coins like you always do.