An integrated circuit includes a load circuit having multiple functional modules, a first voltage regulator configured to provide a supply voltage to the multiple functional modules, and a supply current monitoring circuit including a second voltage regulator and a current monitor, the second voltage regulator being configured to provide a test supply voltage. A switch matrix is interconnected between the first voltage regulator, the supply current monitoring circuit, and the functional modules. Each of the functional modules in successive order is a module under test, and the switch matrix is configured to disconnect the first voltage regulator from the module under test and connect the supply current monitoring circuit to the module under test such that the second voltage regulator provides the test supply voltage to the module under test and the current monitor measures a supply current of the module under test in response to the test supply voltage.