This is the best way I have found of loading images, catching any error that might come along. This can also be used for loading external swf files, just changing the Bitmap in the imageLoaded method to MovieClip

private function loadImage():void
{
	var loader:Loader = new Loader();
	try
	{
		loader.load(new URLRequest("path to image"));
	}
	catch(e:Error){}
	loader.contentLoaderInfo.addEventListener(IOErrorEvent.IO_ERROR, io, false, 0, true);
	loader.contentLoaderInfo.addEventListener(ProgressEvent.PROGRESS, loadProgress, false, 0, true);
	loader.contentLoaderInfo.addEventListener(Event.COMPLETE, imageLoaded, false, 0, true);
}

private function loadProgress(e:ProgressEvent):void
{
	var percent:String = Math.round(e.bytesLoaded / e.bytesTotal) * 100 + "% loaded";
	trace(percent);
}

private function imageLoaded(e:Event):void
{
	e.currentTarget.removeEventListener(IOErrorEvent.IO_ERROR, io);
	e.currentTarget.removeEventListener(ProgressEvent.PROGRESS, loadProgress);
	e.currentTarget.removeEventListener(Event.COMPLETE, imageLoaded);

	var image:Bitmap = e.target.content as Bitmap;
	addChild(image);
}

private function io(e:IOErrorEvent):void{}

Also, this may be used in the IDE (if you aren’t using classes), by removing the private from the private function.