The service account have Full control and all other permissions to create the accounts in AD.
We also observed following error when we installed and start the IQService instance
RpcServer [ Thread-1 ] ERROR : "Exception while listening:System.Net.Sockets.SocketException (0x80004005): Only one usage of each socket address (protocol/network address/port) is normally permitted
We are still able to do test connection, account and entitlement aggregation successfully, only account creation is failing.