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Windows > File > Settings

Step One – Make sure you AVID Project is set to 24 bit audio.

Go to the Project Window and click on the Settings tab


Click ON Audio Project

Choose the "Main" tab and make sure the Sample Rate is 48 and the Audio File Format is set to PCM (MXF) 24bit


Close this settings dialog by clicking on the "red" x to close

Import the Stereo or 5.1 audio into the project Stereo 
Go to >File>Import> or Input (8.5) Import >File>Input>Import Media

Click on Options

Click on the Audio Tab

Make sure the audio looks like this
 

Turn off Autodectect Broadcast Wave Mono Groups

Turn Off Subframe Alignment to Broadcast Wave Start Time

Next click on the "Edit" button.

You have to tell the AVID software to make channels A1 and A2 into a stereo file.

Choose the stereo option in the pulldown.

This is how a stereo import setting looks.

Click OK again to leave the Audio Import Tool

Navigate to your audio and click Import

THIS EXAMPLE PIC IS OF 5.1 AUDIO YOU SHOULD ONLY HAVE ONE LtRt file selected.