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Memory Beta, non-canon Star Trek Wiki

The Starfleet Oversight Committee was an organization within the United Federation of Planets.

After the Totality began its attack on the galaxy by attacking warp drive vessels, only a single member of the Federation Council and chairman of the Starfleet Oversight Committee managed to escape to the Vostok Academy on Mercury. (TOS novel: Captain's Glory)

Presumably, it is the Federation body that monitors the Federation Starfleet's actions.