Iraola will leave Bournemouth at the end of the 2025-26 season on the expiry of his contract as the club plan for his exit and his inevitable replacement.
Reports state Bournemouth are in advanced talks with Marco Rose alongside several other well known names who could help guide the side next season.
He has also been heavily linked with La Liga side Athletic Club, for whom he made over 400 appearances as a player, but it is unsure where he may end up as he focuses on the final games of the campaign.
Speaking to the BBC, Cook revealed that he believes the Bournemouth board know exactly what they are doing as they plan for the future.
"Bournemouth will have a plan. Iraola's former assistant at Rayo Vallecano Inigo Perez would fit perfectly because there is a very similar philosophy at that club and they are similar in the way they play.
"You read things on social media with the likes of Frank Lampard and Kieran McKenna being linked, but they are both in for promotions themselves right now.
"The hierarchy at the club will know. They will have planned for the worst, and they still have a few weeks and months to finalise the plan.
"I back them to make the right decision. Bournemouth is a very attractive job, let's be honest. It's a Premier League club, consistently pushing in the right direction.
"Things are exciting with the training ground and the plans. I think it's an amazing job for anyone and I back the board to get the right man in."
Rose has previously worked at Borussia Mönchengladbach and RB Salzburg and it currently the favourite to take the job where he may have European football if the Cherries pick up form in the final games.