ASSERTION_FAILED in XD01,XD02 while maintaining Industry in Marketing tab

Question

While creating a new customer (XD01) or changing an existing customer (XD02),
in the Marketing tab, Industry field, when a value is maintained,
it results in runtime error ASSERTION_FAILED.
This occurs in  line:
assert condition lv_ind_sector_type is not initial.
Class/Interface: FSBP_IND_SECTOR_MAPPER
Method:     MAP_TRBP_DEB_TO_BP
the piece of code relevant to this line is
    7   if iv_brsch is initial.
    8     raise exception type cx_parameter_invalid.
    9   endif.
   10
   11 * assure, that industry sector type is defined
   12   if iv_ind_sector_type is initial.
   13     lv_ind_sector_type = get_standard_ind_sector_type( ).
   14   else.
   15     lv_ind_sector_type = iv_ind_sector_type.
   16   endif.
   17   assert condition lv_ind_sector_type is not initial.
the value maintained in the industry is filled in iv_brsch.
Here, the field iv_ind_sector_type is blank
and so is filled by line 13 (method: get_standard_ind_sector_type)
Code for Method: get_standard_ind_sector_type is as given below:
method get_standard_ind_sector_type .
  if standard_ind_sector_type is initial.
    select single istype from tb038
      into standard_ind_sector_type
      where istdef = true.                                  
  endif.
  rv_ind_sector_type = standard_ind_sector_type.
endmethod.
There are no values in the table TB038, which is why the select statement fails, further resulting in the short dump.
What is the significance of the table TB038, in relation to customer creation/updation (Industry field).
Is there any other way through which this issue can be tackled with? Kindly let me know.
Regards,
Smruthi S. Acharya

Answer 1

Thank you very much, Srini.
I understand what you say, but does it mean that the note 727205 has already been implemented in our system?
Because the exact issue is:
Earlier (say a month ago), users were able to create customers in XD01, maintaining the industry while creation. Also, users were able to edit exisiting customers and maintain the industry for them.
However, now, when users get a runtime error ASSERTION_FAILED, while creating as well as changing existing customers Industry information.
What could possibly go wrong suddenly? 
Moreover,  its a standard code, no customising involved.
Thanks & Regards,
Smruthi