According to an embodiment, a multiphase regulator includes a plurality of output phases each of which is operable to deliver a phase current through a separate inductor to a load connected to the output phases via the inductors and an output capacitor. A controller is operable to regulate a voltage delivered to the load by adjusting the phase currents delivered to the load by the output phases, monitor the phase currents delivered to the load by the output phases, test the output phases in a predetermined sequence, and determine if the phase currents respond in a predetermined way.