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In this video, the speaker discusses how to access the audit log in Microsoft 365 to track user activities such as sharing, downloading, and deleting documents in SharePoint. By utilizing the capability available within the compliance Center, users can trace the activities of employees to ensure compliance and security. To access audit reports, users need to be the admin of the portal and can do so by clicking on the nine dots and navigating to the compliance admin Center. This allows users to create retention policies and labels in addition to tracking user activities.