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In the video tutorial, Michael from First Aid Oz discusses the importance of duty of care and incident reporting in relation to first aid. Duty of care involves a legal responsibility for ensuring the health and safety of others, particularly in a work setting. This means that individuals providing first aid services must not only deliver the necessary care but also prioritize the well-being of the person in need. In the event of an injury or medical emergency, the first aider is accountable for ensuring appropriate attention is given, whether through administering first aid or seeking further medical assistance.