Soak bread in milk for 10 minutes until very soft, squeeze out milk and combine with mince, onion, garlic, egg and herbs in a bowl. Season to taste. Roll tablespoons of mixture into balls and set aside.
Heat oil, over medium heat, in a large frypan and cook the meatballs, turning frequently, until browned. Pour over pasta sauce and 1/2 cup water and simmer for 10-15 minutes or until meatballs are cooked through.
Meanwhile, boil or steam potatoes and parsnip for about 15 minutes or until cooked through and very tender. Drain and set aside for 5 minutes for the steam to evaporate from the potato. Return to saucepan and mash until smooth. Stir cheese into mash and season to taste. Serve topped with Italian Meatballs.