The match, part of the inaugural U15 World Cup and Festival, was stopped when an England player approached his bench and made a complaint to coaching staff. On match coverage broadcast by DAZN, England head coach Matt Thorpe was seen calling his players off the pitch after relaying the allegation to the referee.
An assistant coach was heard telling the referee, "We are reporting racism" and "we do not want to play." When an official suggested discussing the matter after the match, the assistant replied, "No, our players do not want to play," later adding that a player was "upset."
A Fifa spokesperson confirmed the match was "abandoned by the referee following England's refusal to continue" and said official reports were being gathered. "The matter will be referred to the independent disciplinary committee, who will decide in due course," the spokesperson told BBC Sport.
The Football Association said it was awaiting more information and was in touch with Fifa, adding that player wellbeing was a priority. The Football Association of Ireland has been contacted for comment.
The tournament, which involves 189 of Fifa's 211 member associations, uses an eight-a-side format with 20-minute halves. Heated words were exchanged between coaching staff from both sides, with each saying they were trying to protect their players. England were due to face Zimbabwe later on Monday, while Ireland were scheduled to play Cambodia.