How to resolve the error 'Cannot read configuration file due to insufficient permissions' in IIS for Confirm

Products affected: Confirm®
Product Feature: Application Infrastructure

When upgrading from V15 to V17.1 the following error appears in Internet Information Service (IIS): 

User-added image

In (Internet Information Services) IIS the Connector has an application pool. The user of that application pool (Advanced Settings > Process Model - Identity) needs to have permission to read the C:\inetpub\Confirm\Connector folder.

This will resolve this error.
UPDATED:  June 23, 2017