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Oscars auditors PriceWaterhouseCoopers apologize for best picture mix-up

Confusion at the Oscars

PriceWaterhouseCoopers, the accounting firm responsible for tabulating Oscar ballots, apologized for an "error" in the presentation of the best picture award Sunday, saying Warren Beatty and Faye Dunaway were handed the wrong envelope.

The mix-up saw the Oscar incorrectly given to musical "La La Land" before producers corrected the mistake, and "Moonlight" was handed the prize.

"We are currently investigating how this could have happened, and deeply regret that this occurred," PriceWaterhouseCoopers said in a statement.