A monitoring system and method are provided for determining at least one property of an integrated circuit (IC) comprising a multi-layer structure formed by at least a layer on top of an underlayer. The monitoring system receives measured data comprising data indicative of optical measurements performed on the IC, data indicative of x-ray photoelectron spectroscopy (XPS) measurements performed on the IC and data indicative of x-ray fluorescence spectroscopy (XRF) measurements performed on the IC. An optical data analyzer module analyzes the data indicative of the optical measurements and generates geometrical data indicative of one or more geometrical parameters of the multi-layer structure formed by at least the layer on top of the underlayer. An XPS data analyzer module analyzes the data indicative of the XPS measurements and generates geometrical and material related data indicative of geometrical and material composition parameters for said layer and data indicative of material composition of the underlayer. An XRF data analyzer module analyzes the data indicative of the XRF measurements and generates data indicative of amount of a predetermined material composition in the multi-layer structure. A data interpretation module generates combined data received from analyzer modules and processes the combined data and determines the at least one property of at least one layer of the multi-layer structure.