<p>Looks like we have an explanation for the now-infamous Oscars Best Picture snafu. And no, it wasn&#39;t Warren Beatty&#39;s fault.</p><p><a href="https://www.youtube.com/watch?v=1cF37KPBS6g" target="_blank">PricewaterhouseCoopers</a>, the accounting firm responsible for overseeing the Academy Awards&#39; voting process, has taken the blame for the shocking mix-up.</p><p>Somehow, Beatty was handed the envelope for Best Actress before going on stage, not the one for Best Picture.</p><p>Only two people know the Oscar winners in advance, and they&#39;re both with PricewaterhouseCoopers.</p><p><b>SEE MORE: <a href="http://www.newsy.com/stories/la-la-land-mistakenly-crowned-winner-at-oscars/">The Oscars Pulled A Steve Harvey And Crowned Wrong Best Picture Winner</a></b></p><p>After the votes are tallied, they stuff two identical sets of envelopes and lock them in two separate briefcases. And on Oscars night, they stand backstage and hand the envelopes to award presenters before they walk out on stage.</p><p>Typically,&nbsp;<a href="http://www.huffingtonpost.com/entry/oscar-results-balloting-pwc_us_5890f00ee4b02772c4e9cf63" target="_blank">this process</a>&nbsp;is pretty foolproof. But apparently not this year.</p><p>And that&#39;s why &quot;La La Land&quot; was mistakenly announced as the winner of Best Picture and not &quot;Moonlight.&quot;</p><p>PricewaterhouseCoopers said in&nbsp;<a href="https://pbs.twimg.com/media/C5qF-kPU0AAh3op.jpg" target="_blank">a statement</a>&nbsp;after the show they &quot;deeply regret that this occurred&quot; and are still trying to figure out exactly how it could have happened.</p><hr><b>Trending stories at <a href="http://www.newsy.com">Newsy.com</a></b><ul class="inline-related-links"><li><a href="http://www.newsy.com/stories/la-la-land-mistakenly-crowned-winner-at-oscars/">The Oscars Pulled A Steve Harvey And Crowned Wrong Best Picture Winner</a></li><li><a href="http://www.newsy.com/stories/moonlight-wins-best-picture-at-the-oscars-in-major-upset/">Not Fake News: &#039;Moonlight&#039; Won Best Picture At The Oscars</a></li><li><a href="http://www.newsy.com/stories/stars-wear-blue-aclu-ribbons-at-the-oscars/">The Political Statement Stars Made On The Oscars Red Carpet</a></li></ul>