A system and method for estimating the current delivered to a patient during voltage-regulated electrical stimulation therapy by an implantable medical device includes calculating a total charge delivered and a peak current delivered and the time at which the peak current was delivered using a proxy for the current delivered to the patient and a component such as a current controlled oscillator, the output of which is proportional to the current proxy together with memory for storing values relating to the output proportional to the current proxy. The stored values also may be used to construct a waveform approximating the current delivered to the patient during a therapy of voltage-regulated stimulation. The system and method may be implemented in an active implantable medical device such as an implantable neurostimulator.