Are you using onboard sound or not? Have you tried restarting the computer?
Is that the EXACT error message, with no typo's? Because google doesn't show up anything for it which is really odd...
Also, are you sure the error message isn't "Windows cannot execute SndVol32.exe" because that actually brings up results...
Here's how to fix it:
1. Do a search for ALL FILES AND FOLDERS -- sndvol32.exe
2. You should get two results:
Read here on restoring the corrupted file: