Strong sufficient conditions are that $f$ is continuous and $\phi'$ is integrable. A straightforward proof uses the FTC, and monotonicity of $\phi$ is not needed.
Defining $F(t) = \int_{\phi(\alpha)}^{\phi(t)}f(x) \, dx$, we have $F'(t) = f(\phi(t)) \phi'(t)$ since $f$ is continuous, and
$$\int_a^b f(x) \, dx = \int_{\phi(\alpha)}^{\phi(\beta)}f(x) \, dx = F(\beta)= \int_\alpha^\beta F'(t) \, dt = \int_\alpha^\beta f(\phi(t))\phi'(t) \, dt$$
On the other hand, we can drop the condition that $f$ is continuous and assume only integrability. To facilitate an easy proof using Riemann sums, we need to assume that $\phi$ is both continuously differentiable and monotone.
Take a partition $\alpha = t_0 < t_1 < \ldots < t_n = \beta$ and form the sum
$$\tag{*}S(P,f\circ\phi \, \phi')= \sum_{j=1}^n f(\phi(\xi_j))\phi'(\xi_j)(t_j - t_{j-1})$$
where we use intermediate points $\xi_j \in [t_{j-1},t_j]$ and which will converge to $\int_\alpha^\beta f(\phi(t)) \phi'(t) \, dt$ as the partition is refined.
If $\phi$ is increasing then a partition $P'$ of $[\phi(\alpha),\phi(\beta)]$ is induced by
$$\phi(\alpha) = \phi(t_0) < \phi(t_1) < \ldots < \phi(t_n) = \phi(\beta),$$
and using the intermediate points $\phi(\xi_j)$, we have a Riemann sum for the integral of $f$ over $[\phi(\alpha),\phi(\beta)]$ of the form
$$S(P',f) = \sum_{j=1}^n f(\phi(\xi_j))(\,\phi(t_j) - \phi(t_{j-1})\,)$$
Note that we need the monotonicity of $\phi$ to ensure that $\phi(\xi_j) \in [\phi(t_{j-1}), \phi(t_j)]$.
Applying the mean value theorem, there exist points $\eta_j \in (t_{j-1},t_j))$ such that
$$\tag{**}S(P',f) = \sum_{j=1}^n f(\phi(\xi_j))\phi'(\eta_j)(t_j - t_{j-1})$$
Notice the similarity between the sums in (*) and (**). Aside from the distinction between $\eta_j$ and $\xi_j$, they are identical. Using the continuity (and, hence, uniform continuity) of $\phi'$ we can show that as the partition is refined and both $\|P\|, \|P'\| \to 0$ we have
$$\lim_{\|P|| \to 0}|S(P,f\circ \phi\,\phi') - S(P',f)| = 0$$
Therefore, $S(P',f)$ converges to both integrals and we have
$$\lim_{\|P'\| \to 0}S(P',f) = \int_{\phi(\alpha)}^{\phi(\beta)} f(x) \, dx = \int_a^b f(\alpha(t)) \alpha'(t) \, dt$$
Again, there are a number of ways to prove the change-of-variables theorem -- without the assumption that $\phi$ is monotone -- that avoid this association with Riemann sums. In the most general form only integrability and not continuity of $f$ and $\phi'$ is assumed.
The conditions can be weakened further. The result holds if both $f$ and $\phi'$ are integrable, without any assumptions of continuity. This is much more difficult to prove. Here is where you might begin to search for counterexamples.