The purpose of this paper is to propose a critical assessment of Young’s modulus determination of coated materials using Impulse Excitation Technique (IET). In this technique, the coated substrate is excited by an impulse and the acoustic vibrations are recorded. The frequency of the first bending mode is then used in a mechanical model to obtain the Young’s modulus of the coating. The existing models are based on two different theories: the flexural rigidity of a composite beam and the Classical Laminated Beam Theory (CLBT). The aim of the present paper is to assess the accuracy (trueness and precision) of the technique. For this, different models proposed in the literature are compared with a finite element model of the specimen for various conditions. The trueness and precision of models were evaluated and the best model was identified. Then a detailed uncertainty budget is performed to identify and quantify the most influent factors on the global uncertainty.