Can't open Audition CC (2014)

I've just downloaded Audition CC (2014) for the first time and every time I go to open the application I get an error message come up saying:

Fatal Error

Audition cannot access the preference folder. Please make sure the current user has the read/write permission to the preference folder.

I have tried uninstalling and reinstalling the application and also restarting the computer but to no avail. I'm working on an iMac running the latest version of Mavericks (10.9.4).

Anyone got any ideas on how to get past this?

Thanks