Control indicators for controlling area & do not exist

What causes this issue?

No control indicators exist for controlling area &V1& in fiscal year
&V2&.

System Response

You cannot process the controlling area without valid control
indicators.

How to fix this error?

Check your entries or use the Customizing functions to create the
control indicator for controlling area &V1& and fiscal year &V2&. Note
that the fiscal year in the control indicator is a "From fiscal year".

Error message extract from SAP system. Copyright SAP SE.