using of three words "of"

[KLPNO]

Hello everyone
I'd like to ask about the use of three words "of" in a phrase. Is it true that such use is bad from a stylistic point of view. And how can I avoid using three words "of' in a sentence in the following context?

Concluding his speech, Mr. X stressed that thinking about participation of NGOs in political processes one should clearly understand that an NGO is an invariable participant in the political process. And the function itself of the monitoring of actions of the authorities performed by our NGOs is an important political function.

NGO stands for non-governmental organization.

[Anglika]

It is a bit awkward. How about:

"And the function of monitoring the authorities' actions, performed by our NGOs, is an important political function."