• Jimmy Kimmel (L), Warren Beatty and 'La La Land' producer Jordan Horowitz announce 'Moonlight' as correct winner of Best Picture award at the Oscars 2017.

Jimmy Kimmel (L), Warren Beatty and 'La La Land' producer Jordan Horowitz announce 'Moonlight' as correct winner of Best Picture award at the Oscars 2017. (Photo : YouTube/ABC News)

The Oscars 2017 will forever be remembered as the event that featured one of the shocking and biggest mistakes in the history of the Academy Awards. Given the Best Picture winner announcement mix-up of "La La Land" and "Moonlight," PricewaterhouseCoopers (PWC) admitted that they were to blame for the said incident.

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The multi-awarded musical "La La Land" was mistakenly announced as the winner of the Best Picture category at the Oscars 2017. Hollywood celebrities and viewers were shocked when the error was immediately addressed and the Academy Award for Best Picture was handed over to "Moonlight."

Oscars 2017 host Jimmy Kimmel helped to correct the error, as well as "La La Land" producer Jordan Horowitz and presenter Warren Beatty. The veteran Hollywood actor even showed the correct card that declared "Moonlight" as the winner.

Shortly after the disastrous Best Picture winner announcement, accounting firm PWC released a statement to extend their apologies to the two films, the Best Picture presenters, as well as the event's viewers. The statement, as obtained by TVLine, also explained how the mix-up happened.

PWC, tasked with counting the ballots, admitted that Beatty and co-presenter Faye Dunaway were mistakenly handed an incorrect envelope when they went up the stage. Instead of the Best Picture category envelope, the two Hollywood stars were given the Best Actress category envelope.

With "La La Land" star Emma Stone's name written on the card, Dunaway announced the said film as the winner. The category envelope mix-up also explained Beatty's long pause during the Oscars 2017 event and his multiple glances on the said card before handing it to Dunaway.

The accounting firm added, "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."

Adding to the controversy was Stone's announcement that she also has a Best Actress card in her possession. The "La La Land" star told reporters at the event that she held onto the Best Actress card that was used when she was announced the winner, Entertainment Tonight quoted the actress as saying.

The 89th Academy Awards was held on Feb. 26, Sunday, at the Dolby Theater in Hollywood. Watch a clip of the Oscars 2017 Best Picture winner mix-up below: