A diagnostic system for an exhaust system including a catalyst and a post-catalyst oxygen sensor is provided. The system generally includes a fuel control module that commands fuel to transition from a rich condition to a lean condition and that commands fuel to transition from the lean condition to the rich condition. A first diagnostic module monitors the post-catalyst oxygen sensor during the transition from the rich condition to the lean condition. A second diagnostic module monitors the catalyst during the transition from the lean condition to the rich condition.