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Why is CUR setup failing with "There is a critical error with the AWS Account: The policy for this account is preventing all access to Cost and Usage Reports. Please update the policy to include: cur:DescribeReportDefinitions."?

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You are only able to configure the CUR for the master account. 

If you try to configure the CUR on a non-master account you will see the "Please update the policy to include: cur:DescribeReportDefinitions" error even though the permission shows up in the IAM policy.