As per Microsoft: "To resolve this behavior run setup /domainprep, and then use the Policytest utility (Policytest.exe) that is provided on the Exchange Server CD to verify that the permissions are set. Also, use the Local Security Policy tool in the Administrative Tools group to verify that the Exchange Enterprise Servers security group has rights on the Manage auditing and security logs". See MSEX2K3DB for more details on fixing this issue.
See ME896703 for additional information on this event.
As per ME314294, this issue may occur if the Manage Auditing and Security Log right (SeSecurityPrivilege) was removed for the Exchange Enterprise Servers domain local group on some or all of the domain controllers. To resolve this issue, use the Policytest.exe utility to check the status of the SeSecurityPrivilege right on all of the domain controllers in a single domain. The Policytest.exe utility is included on the Exchange 2000 installation CD-ROM.
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