3505604 - Error KS119 "You do not have authorization to change the cost center groups" during Cost Center creation

When trying to create Cost Center in Manage Cost Centers App, the error KS119 "You do not have authorization to change the cost center groups. In controlling area A000, you are not authorized to change cost center groups &" is triggered. 

SAP S/4HANA Cloud Public Edition

Open Manage Cost Centers App

The corresponding user is restricted in IAM Information System App.

Maintain Unrestricted access for Read and Write cost centers.

All restrictions pertaining to the Cost Center ID should be maintained in the Maintain Business Users app under Restrictions > General tab > Cost Center field. Restrictions on the Responsibility Area tab for Cost Centers should also be removed.

IAM Information System

Cost Centers

KS119, not authorized, cost center group, restricted, cannot create. , KBA , CO-FIO-CCA-MD-2CL , Master Data (Public Cloud) , CO-FIO-CCA-MD , Master Data , Problem