After finding out that you’ve made a potentially serious error at your job, the most important reason for taking action to correct it is because if you did not:

Making a potentially serious error at your job could not only lead to you losing your job, but also hurting others. Say you work at a fast food place and are a chef. Making an error here could lead to serious food poisoning and should be reported right away to ensure that the heath of the person is taken care of. Reporting something serious could mean life of death for someone and it is important that you report it, though you could lose your job, it will prevent further harm from someone.