tThe present invention relates to a system (100) and method (800) capable of indirectly monitoring respiratory and cardiac variables. A decomposition technique on time series of features extracted from the chest audio signal a() is proposed. The proposed monitoring system (100) may acquire the acoustic signal on the chest of a subject (140) by means of a wearable transducer (150). The proposed system may estimate a number of physiological variables such as flow estimates respiration rate inspiration and expiration markers and cardiac related variables. Cough and apnea detection adventitious sound recognition activities performed and information about energy estimation and the status of a monitored subject can be derived as well.