This usually is an indication that you've got junk files, fragmentation or not enough contiguous free space on your hard drive(s) for the program to do its work. (It could also be that the video is of format that the program can't work with. What model of camcorder is this video from?)
Assuming you've got at least 50-100 gigs of free space on your C drive, I recommend doing a disc cleaning and defragmentation. (The free software Advanced System Care Free from http://www.iobit.com/advancedsystemcareper.html will do a good computer tune-up with a single click.)
To get a bit more information on the Conforming process, see this ARTICLE.
The two biggest issues, for failed Conforming are: lack of defragmented free-space on the HDD, where the Scratch Disks (and especially the Media Cache) are located, and the specs. of the original Audio Stream, just as Steve mentions. Let us know how much defragmented free-space you have, and also the specs. of the files' Audio Stream.
Thanks. I do a defragment and disc cleanup every week. I haven't done it today yet, but I will also download the Advanced System Care Free and see if that helps. It was just a avi file that I downloaded online, when I worked with an avi file a few weeks ago it worked fine and there were no errors. I tried playing it while it was conforming and the audio was there its just as it is conforming the errors pop up.
Can you recreate the conformed files and see if that helps? To do this clear the media cache. Go to "%appdata%\Adobe\Common\" (Type this with the quotes in the Run Bar) Clear the folders there. Restart PrE10 and see if the confirming happens correctly this time.
If this does not solve the problem, I suggest you re-encode the audio alone. To do this use vlc player. Launch the player, Go to Media->Convert/Save, Click on Add and add this file.
In the next screen, go to Audio codec tab and select another format, say mp3 and then re-encode the file. Do not change anything else.
Import the filegenerated from vlc into PRE. This shoul work now. Try and let us know.
The VLC Player worked! Thank you!