Cannot find executable for CFBundle CertUIFramework.axbundle

Final Edit-

Temporary workaround: click iOS Simulator > Reset Content and Settings... and run again.

This error message may reappear at random. For me, it happens when I launch a different application. There are several threads in Apple dev forums and in StackOverflow about this problem, but none have a definitive answer. This seems to be a SDK error to be fixed in the next Xcode version.

Updated: October 3.

CREDIT - Please check this answer - Xcode 5 Error CertUIFramework.axbundle

Further Edit
Although this was potentially the issue resolution at the time. I believe some of the newer answers below relating to the better touch tool are in fact the correct resolutions.

After reading Kirill's answer I did some digging as I didn't want to disable BetterTouchTool for everything just the "iOS Simulator" and you can. Open the "iOS Simulator" and will it as the active app go to the BTT drop-down menu from the top bar (of that screen if you have more than one) and select "Disable BTT for Current App". It will turn to a play icon when it's disabled. Make sure the app name on the bar is still "iOS Simulator" as mine jumped to "Finder" a few times when I clicked the top bar!

Now re-set the simulator (if it doesn't work) and rebuild. You shouldn't get the error! :) Don't forget to clear the error if it's still there. ;)

BTT seems to remember what apps it's disabled for (or at least it does when you close and re-open the app that's disabled I haven't tried a system re-boot yet).

Its easy. Go iOS simulator and reset content and setting.

Thanks