Error: Cannot read configuration file due to insufficient permissions – possible solution

I wanted to post an incomplete solution to this problem that I’ve encountered a couple times now.  I’m not sure the exact cause but the jist of it is that I’ve got a web site I’m hosting via IIS7 on a remote server which I can access just fine.  But when I try to host this on my local machine for debugging purposes, I get an error which resembles this when I access the page:

Server Error in '/xxxxx’ Application.

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Filename: redirection.config
Error: Cannot read configuration file due to insufficient permissions

Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.

Exception Details: System.UnauthorizedAccessException: Filename:redirection.config
Error: Cannot read configuration file due to insufficient permissions

ASP.NET is not authorized to access the requested resource. Consider granting access rights to the resource to the ASP.NET request identity. ASP.NET has a base process identity (typically {MACHINE}\ASPNET on IIS 5 or Network Service on IIS 6) that is used if the application is not impersonating. If the application is impersonating via <identity impersonate="true"/>, the identity will be the anonymous user (typically IUSR_MACHINENAME) or the authenticated request user.

To grant ASP.NET access to a file, right-click the file in Explorer, choose "Properties" and select the Security tab. Click "Add" to add the appropriate user or group. Highlight the ASP.NET account, and check the boxes for the desired access.

The Solution:

1. Identify the user under which your web site’s application pool is running under.

2. Add this user as a User Account on your local machine and add them to the IIS_IUSRS Group (the names have been obscured to protect the innocent).