A Dtrace output of the FSAUtility process shows that Vault Service Account does not have the required access to specific folders on the file server :
(FSAUtility) <3080> EV:L {CPlaceholderSvcClientStub::IsFileAPlaceholder} (Entry)
(FSAUtility) <3080> EV:L {CPlaceholderSvcClientStub::GetInterface} (Entry)
(FSAUtility) <3080> EV:M VaultCoCreateInstanceEx: IsLocalMachineExtendedCheck returned false for server [FileServer.EV.local] as the IP Address matched that of the local machine
(FSAUtility) <3080> EV:L {CPlaceholderSvcClientStub::GetInterface} (Exit) Status: [Success]
(FSAUtility) <3080> EV:L Exception in method CPlaceholderSvcClientStub::IsFileAPlaceholder, error: 80070005
(FSAUtility) <3080> EV:L Throwing cached interface pointer away due to unrecognised error CPlaceholderSvcClientStub::IsFileAPlaceholder
(FSAUtility) <3080> EV:H {CPlaceholderSvcClientStub::IsFileAPlaceholder} (Exit) Status: [Access is denied. (0x80070005)]
(FSAUtility) <2964> EV-H {BULKRECALL.EN_US} Failed to crawl directory \\?\UNC\FileServer.EV.local\Volume\FolderA, error:\\?\UNC\FileServer.EV.local\Volume\FolderA\*
(FSAUtility) <2964> EV-H {BULKRECALL.EN_US} Failed to crawl directory \\?\UNC\FileServer.EV.local\Volume\FolderB, error:\\?\UNC\FileServer.EV.local\Volume\FolderB\*
(FSAUtility) <2964> EV-H {BULKRECALL.EN_US} Failed to crawl directory \\?\UNC\FileServer.EV.local\Volume\FolderC, error:\\?\UNC\FileServer.EV.local\Volume\FolderC\*