1. In a large saucepan, heat the olive oil over medium heat. Add the rice and saute until fragrant (1 minute).
2. Add the water, bouillon, onion, mushrooms, and nutmeg. Bring mixture to a boil, reduce heat to low, cover and simmer until rice is cooked (40 minutes).
3. Stir asparagus into the rice mixture, cover and cook until tender (5 minutes). Stir in the grated cheese and garnish with parsley. Serve immediately.