diff --git a/tools/build.py b/tools/build.py
index c7962c5d2b..1f5db2d579 100644
--- a/tools/build.py
+++ b/tools/build.py
@@ -38,6 +38,7 @@ from tools.options import extract_mcus
 from tools.build_api import build_library, build_mbed_libs, build_lib
 from tools.build_api import mcu_toolchain_matrix
 from tools.build_api import print_build_results
+from tools.build_api import get_toolchain_name
 from tools.settings import CPPCHECK_CMD, CPPCHECK_MSG_FORMAT
 from tools.settings import CPPCHECK_CMD, CPPCHECK_MSG_FORMAT, CLI_COLOR_MAP
 from tools.notifier.term import TerminalNotifier
@@ -169,12 +170,18 @@ if __name__ == '__main__':
     successes = []
     skipped = []
 
+    toolchain_names = set()
     for toolchain in toolchains:
-        if not TOOLCHAIN_CLASSES[toolchain].check_executable():
-            search_path = TOOLCHAIN_PATHS[toolchain] or "No path set"
+        for target_name in targets:
+            target = Target.get_target(target_name)
+            toolchain_names.add(get_toolchain_name(target, toolchain))
+
+    for toolchain_name in toolchain_names:
+        if not TOOLCHAIN_CLASSES[toolchain_name].check_executable():
+            search_path = TOOLCHAIN_PATHS[toolchain_name] or "No path set"
             args_error(parser, "Could not find executable for %s.\n"
                                "Currently set search path: %s"
-                       % (toolchain, search_path))
+                       % (toolchain_name, search_path))
 
     for toolchain in toolchains:
         for target in targets:
diff --git a/tools/make.py b/tools/make.py
index 17802b5bb1..5d906797a9 100644
--- a/tools/make.py
+++ b/tools/make.py
@@ -47,6 +47,7 @@ from tools.build_api import mcu_toolchain_matrix
 from tools.build_api import mcu_toolchain_list
 from tools.build_api import mcu_target_list
 from tools.build_api import merge_build_data
+from tools.build_api import get_toolchain_name
 from utils import argparse_filestring_type
 from utils import argparse_many
 from utils import argparse_dir_not_parent
@@ -308,7 +309,8 @@ if __name__ == '__main__':
             args_error(parser, "argument -t/--tool is required")
         toolchain = options.tool[0]
 
-        if Target.get_target(mcu).is_PSA_secure_target and \
+        target = Target.get_target(mcu)
+        if target.is_PSA_secure_target and \
                 not is_relative_to_root(options.source_dir):
                 options.source_dir = ROOT
 
@@ -321,11 +323,12 @@ if __name__ == '__main__':
 
         notify = TerminalNotifier(options.verbose, options.silent, options.color)
 
-        if not TOOLCHAIN_CLASSES[toolchain].check_executable():
-            search_path = TOOLCHAIN_PATHS[toolchain] or "No path set"
+        toolchain_name = get_toolchain_name(target, toolchain)
+        if not TOOLCHAIN_CLASSES[toolchain_name].check_executable():
+            search_path = TOOLCHAIN_PATHS[toolchain_name] or "No path set"
             args_error(parser, "Could not find executable for %s.\n"
                                "Currently set search path: %s"
-                               %(toolchain, search_path))
+                               %(toolchain_name, search_path))
 
         if options.source_dir is not None:
             wrapped_build_project(
diff --git a/tools/test.py b/tools/test.py
index 3e0996a2b1..6372146a41 100644
--- a/tools/test.py
+++ b/tools/test.py
@@ -35,6 +35,7 @@ from tools.options import get_default_options_parser, extract_profile, extract_m
 from tools.build_api import build_project, build_library
 from tools.build_api import print_build_memory_usage
 from tools.build_api import merge_build_data
+from tools.build_api import get_toolchain_name
 from tools.targets import TARGET_MAP
 from tools.notifier.term import TerminalNotifier
 from tools.utils import mkdir, ToolException, NotSupportedException, args_error, write_json_to_file
@@ -149,18 +150,20 @@ if __name__ == '__main__':
         if options.mcu is None:
             args_error(parser, "argument -m/--mcu is required")
         mcu = extract_mcus(parser, options)[0]
-        mcu_secured = Target.get_target(mcu).is_PSA_secure_target
+        target = Target.get_target(mcu)
+        mcu_secured = target.is_PSA_secure_target
 
         # Toolchain
         if options.tool is None:
             args_error(parser, "argument -t/--tool is required")
         toolchain = options.tool[0]
 
-        if not TOOLCHAIN_CLASSES[toolchain].check_executable():
-            search_path = TOOLCHAIN_PATHS[toolchain] or "No path set"
+        toolchain_name = get_toolchain_name(target, toolchain)
+        if not TOOLCHAIN_CLASSES[toolchain_name].check_executable():
+            search_path = TOOLCHAIN_PATHS[toolchain_name] or "No path set"
             args_error(parser, "Could not find executable for %s.\n"
                                "Currently set search path: %s"
-                       % (toolchain, search_path))
+                       % (toolchain_name, search_path))
 
         # Assign config file. Precedence: test_config>app_config
         # TODO: merge configs if both given
@@ -312,4 +315,3 @@ if __name__ == '__main__':
         traceback.print_exc(file=sys.stdout)
         print("[ERROR] %s" % str(e))
         sys.exit(1)
-