Controlling area cannot be derived without company code.

What causes this issue?

The "controlling area" characteristic was not supplied with values.
Therefore, the system tries to determine the controlling area using the
company code. However, the "company code" characteristic was not
supplied with values either.

System Response

The supplied data are not updated.

How to fix this error?

You have two options:
Supply values for the "controlling area" characteristic or
Make sure that the "company code" characteristic is supplied with a
company code that is assigned to a controlling area

Error message extract from SAP system. Copyright SAP SE.