Reports from PDMLink are not loading the third party reporting system in Windchill fails with "CM-REQ-4342 An error occurred with the client."

• Running wbr_action.xml fails with : 
  • Access log: CM-REQ-4342 An error occurred with the client.
  • Load Report: CM-REQ-4342 An error occurred with the client.
  • Model Update: CM-REQ-4342 An error occurred with the client.
• Cogaudit.log From Reporting/Logs:

CM-REQ-4023 You cannot create an object at the location "/Team Content/Windchill".  
CM-REQ-4164 The search expression did not select a parent object.
CM-REQ-4335 An error occurred while updating the object 'CAMID("::System Administrators")'.  
CM-REQ-4012 You do not have the appropriate permissions to update or delete the object "/Directory/Cognos/System Administrators" or a related object.

• MethodServer.log shows the below error

<Date\Time> ERROR [RMI TCP Connection(1448)-100.0.0.142] wt.method.MethodContextMonitor.contexts.rmi <Cognos Admin UID> -<Cognos Admin UID>, 100.0.0.142, com.ptc.windchill.enterprise.report.StandardReportService, updateThirdPartyReportModel, , 0, 5, 0.015285257, 3, 0.002443343, 0.346606961, 0.521718294 wt.util.WTException: CM-REQ-4342 An error occurred with the client.
Nested exception is: AxisFault
 faultCode: Client
 faultSubcode: 
 faultString: CM-REQ-4342 An error occurred with the client.
 faultActor: 
 faultNode: 
 faultDetail: 
	{http://developer.cognos.com/schemas/bibus/3/}exception:
			<severity>error</severity>
			<errorCode>cmNoWrite</errorCode>
			
		<ns1:message><messageString>CM-REQ-4012 You do not have the appropriate permissions to update or delete the object &quot;/Directory/Cognos/Site$_Organization_-_nei#Custom_Pending_Activity_Report&quot; or a related object.</messageString></ns1:message><ns1:message><messageString>CAF-WRN-2082 An error has occurred. Please contact your administrator. The complete error has been logged by CAF with SecureErrorID:<Date\Time>-#17</messageString></ns1:message>

CM-REQ-4342 An error occurred with the client.
	at org.apache.axis.message.SOAPFaultBuilder.createFault(SOAPFaultBuilder.java:222)
	at org.apache.axis.message.SOAPFaultBuilder.endElement(SOAPFaultBuilder.java:129)
	at org.apache.axis.encoding.DeserializationContext.endElement(DeserializationContext.java:1087)
	at org.apache.xerces.parsers.AbstractSAXParser.endElement(Unknown Source)
	at org.apache.xerces.impl.XMLNSDocumentScannerImpl.scanEndElement(Unknown Source)
	at org.apache.xerces.impl.XMLDocumentFragmentScannerImpl$FragmentContentDispatcher.dispatch(Unknown Source)
	at org.apache.xerces.impl.XMLDocumentFragmentScannerImpl.scanDocument(Unknown Source)
	at org.apache.xerces.parsers.XML11Configuration.parse(Unknown Source)
	at org.apache.xerces.parsers.XML11Configuration.parse(Unknown Source)
	at org.apache.xerces.parsers.XMLParser.parse(Unknown Source)
	at org.apache.xerces.parsers.AbstractSAXParser.parse(Unknown Source)
	at org.apache.xerces.jaxp.SAXParserImpl$JAXPSAXParser.parse(Unknown Source)
	at org.apache.xerces.jaxp.SAXParserImpl.parse(Unknown Source)
	at org.apache.axis.encoding.DeserializationContext.parse(DeserializationContext.java:227)
	at org.apache.axis.SOAPPart.getAsSOAPEnvelope(SOAPPart.java:698)
	at org.apache.axis.Message.getSOAPEnvelope(Message.java:435)
	at org.apache.axis.handlers.soap.MustUnderstandChecker.invoke(MustUnderstandChecker.java:62)
	at org.apache.axis.client.AxisClient.invoke(AxisClient.java:206)
	at org.apache.axis.client.Call.invokeEngine(Call.java:2784)
	at org.apache.axis.client.Call.invoke(Call.java:2767)
	at org.apache.axis.client.Call.invoke(Call.java:2443)
	at org.apache.axis.client.Call.invoke(Call.java:2366)
	at org.apache.axis.client.Call.invoke(Call.java:1812)
	at com.cognos.developer.schemas.bibus._3.ContentManagerServiceStub.add(ContentManagerServiceStub.java:7666)
	at com.ptc.windchill.cognos.CognosFacade.createOrUpdateDataSources(CognosFacade.java:1238)
	at com.ptc.windchill.cognos.CognosFacade.updateModelReport(CognosFacade.java:489)
	at com.ptc.windchill.enterprise.report.AbstractThirdPartyReportFacade.updateModel(AbstractThirdPartyReportFacade.java:58)