The Academy has admitted that its handling of the infamous Will Smith "slapgate" at the 2022

Oscars was "inadequate".  The organization, which votes on the nominees, winners and hosts of the annual ceremony,

said Monday it would be "completely transparent" going forward.

At a luncheon the organization hosted for this year's Oscar nominees,

Academy of Motion Pictures Arts and Sciences president Janet Yang spoke about last year's devastating event.

"I'm sure you all remember we experienced a phenomenal event at the Oscars," she said, according to Variety.

"What happened on stage was completely unacceptable and our organization's response was inadequate."

“We have learned from this that the Academy must be fully transparent and accountable in our actions, and that you must act swiftly,

compassionately and decisively for yourself and for our industry, especially in times of crisis,” she said.

continued "You can and should expect no less moving forward than us.