We present a complete characterization of the ferromagnetic system CeIr${}_{2}$B${}_{2}$ using powder x-ray diffraction (XRD), magnetic susceptibility $\ensuremath{\chi}(T)$, isothermal magnetization $M(H)$, specific heat $C(T)$, electrical resistivity $\ensuremath{\rho}(T,H)$, and thermoelectric power $S(T)$ measurements. Furthermore, ${}^{11}$B NMR study was performed to probe the magnetism on a microscopic scale. Rietveld refinement of powder XRD data confirms that CeIr${}_{2}$B${}_{2}$ crystallizes in CaRh${}_{2}$B${}_{2}$-type orthorhombic structure (space group fddd). The $\ensuremath{\chi}(T)$, $C(T)$, and $\ensuremath{\rho}$(T) data confirm bulk ferromagnetic ordering with ${T}_{c}=5.1$ K. Ce ions in CeIr${}_{2}$B${}_{2}$ are in a stable trivalent state. Our low-temperature $C(T)$ data measured down to 0.4 K yield a Sommerfeld coefficient $\ensuremath{\gamma}$ = 73(4) mJ/mol K${}^{2}$, which is much smaller than the previously reported value of $\ensuremath{\gamma}$ = 180 mJ/mol K${}^{2}$ deduced from the specific heat measurement down to 2.5 K. For LaIr${}_{2}$B${}_{2}$, $\ensuremath{\gamma}$ = 6(1) mJ/mol K${}^{2}$, which implies the density of states at the Fermi level $\mathcal{D}({E}_{F})=2.54$ states/(eV f.u.) for both spin directions. The renormalization factor for quasiparticle density of states and hence for quasiparticle mass due to $4\phantom{\rule{-0.16em}{0ex}}f$ correlations in CeIr${}_{2}$B${}_{2}$ is $\ensuremath{\approx}$12. The Kondo temperature ${T}_{\mathrm{K}}\ensuremath{\sim}4$ K is estimated from the jump in specific heat of CeIr${}_{2}$B${}_{2}$ at ${T}_{c}$. Both $C(T)$ and $\ensuremath{\rho}(T)$ data exhibit a gapped-magnon behavior in the magnetically ordered state with an energy gap ${E}_{g}\ensuremath{\sim}3.5$ K. The $\ensuremath{\rho}$ data as a function of magnetic field $H$ indicate a large negative magnetoresistance (MR) which is highest for $T=5$ K. While at 5 K the negative MR keeps on increasing up to 10 T, at 2 K an upturn is observed near $H=3.5$ T. On the other hand, the thermoelectric power data have small absolute values ($S\ensuremath{\sim}7\ensuremath{\mu}$V/K), indicating a weak Kondo interaction. A shoulder in $S(T)$ at about 30 K, followed by a minimum at $\ensuremath{\sim}$10 K, is attributed to crystal electric field effects and the onset of magnetic ordering. ${}^{11}$B NMR line broadening provides strong evidence of ferromagnetic correlations below 40 K.