Oscars Best-Picture Flub Explained: Read PwC’s Full Statement

The Oscars’ accounting firm, PwC, has just released a statement taking the blame for the error that led to “La La Land” being incorrectly named the Best Picture. The producers of “La La Land” had to hand over the Best Picture Oscar to the team behind “Moonlight” (pictured) — the film that truly won Best Picture.

Warren Beatty, who incorrectly announced “La La Land” as the Best Picture winner with his “Bonnie and Clyde” co-star, Faye Dunaway, explained after “Moonlight” was named as the real winner that they had been given an envelope containing the name of “La La Land” star Emma Stone, the winner for Best Actress.

They misunderstood it to mean “La La Land” had won. But it was unclear why they would have been given the wrong envelope.

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Here’s the full statement from PwC, aka Price Waterhouse Cooper:

We sincerely apologize to Moonlight, La La Land, Warren Beatty, Faye Dunaway, and Oscar viewers for the error that was made during the award announcement for Best Picture.  The presenters had mistakenly been given the wrong category envelope and when discovered, was immediately corrected.  We are currently investigating how this could have happened, and deeply regret that this occurred.

We appreciate the grace with which the nominees, the Academy, ABC, and Jimmy Kimmel handled the situation.

Re-watch the entire incident here: