02/28/2017 11:54 EST | Updated 02/28/2017 12:10 EST

Oscars Mistake Apology: Pricewaterhouse Coopers Issues A Full Mea Culpa

"We failed the Academy."

The 2017 Oscars will forever be marked by the massive mix-up that happened at the end of the awards broadcast, when actors Warren Beatty and Faye Dunaway announced the wrong winner for the night's biggest accolade, the Best Picture.

Beatty and Dunaway had the wrong envelope and mistakenly announced that "La La Land" had won the Oscar, when, in fact, "Moonlight" had won.

The rest, as they say, is history, captured forever in video clips and tweets of the very confusing moment.

'La La Land' producer Jordan Horowitz, actor Warren Beatty and Jimmy Kimmel stopped the Oscars Sunday night. (Photo: Kevin Winter/Getty Images)

The accounting firm Pricewaterhouse Coopers took responsibility for the debacle in a full apology issued Monday:

"PwC takes full responsibility for the series of mistakes and breaches of established protocols during last night's Oscars. PwC partner Brian Cullinan mistakenly handed the back-up envelope for Actress in a Leading Role instead of the envelope for Best Picture to presenters Warren Beatty and Faye Dunaway. Once the error occurred, protocols for correcting it were not followed through quickly enough by Mr. Cullinan or his partner.

We are deeply sorry for the disappointment suffered by the cast and crew of "La La Land" and "Moonlight."

We are deeply sorry for the disappointment suffered by the cast and crew of "La La Land" and "Moonlight." We sincerely apologize to Warren Beatty, Faye Dunaway, Jimmy Kimmel, ABC, and the Academy, none of whom was at fault for last night's errors. We wish to extend our deepest gratitude to each of them for the graciousness they displayed during such a difficult moment.

For the past 83 years, the Academy has entrusted PwC with the integrity of the awards process during the ceremony, and last night we failed the Academy."

The Academy of Motion Pictures Arts and Sciences also issued a statement Monday:

" We deeply regret the mistakes that were made during the presentation of the Best Picture category during last night's Oscar ceremony. We apologize to the entire cast and crew of La La Land and Moonlight whose experience was profoundly altered by this error. We salute the tremendous grace they displayed under the circumstances. To all involved—including our presenters Warren Beatty and Faye Dunaway, the filmmakers, and our fans watching worldwide—we apologize.

For the last 83 years, the Academy has entrusted PwC to handle the critical tabulation process, including the accurate delivery of results. PwC has taken full responsibility for the breaches of established protocols that took place during the ceremony. We have spent last night and today investigating the circumstances, and will determine what actions are appropriate going forward. We are unwaveringly committed to upholding the integrity of the Oscars and the Academy of Motion Picture Arts and Sciences."

Writer/director Barry Jenkins, producers Adele Romanski and Jeremy Kleiner (all center) and cast/crew members accept Best Picture for 'Moonlight.' (Photo: Kevin Winter/Getty Images)

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