This article describes the main elements and examines the organizational, liability, regulatory and other issues of implementation and further development of the Global Aviation Safety Oversight System (GASOS). GASOS has been recently approved by the Council of the International Civil Aviation Organization (ICAO) and supported by the 40th Session of the ICAO Assembly in 2019. It represents a mechanism for assessment, recognition and monitoring of regional safety oversight organizations and regional accident and incident investigation organizations by ICAO.