Structural01,
Is this a new building or an older one?
A common cause of the horizontal crack at the base of the parapet in buildings that have been around for awhile is differential vertical expansion due to moisture absorption and radiant heat (since there is no load on the masonry to clamp the tendency to crack). This is the reason that the horizontal crack usually occurs at the joint that is level with the bearing course for the roof framing.
The horizontal cracking is always worse on the walls that are exposed to the sunny sides of the building. The front face of the parapet heats up by the sun's rays,and expands.
To exacerbate the situation, additional expansion occurs as a result of moisture absorption. Add freeze-thaw activity and gusting wind forces, and you can see that the crack is almost inevitable.
The cracks are usually larger when the wall is composed of two wythes, especially when the outer wythe is clay brick, and the back-up wythe is concrete masonry (due to the difference in expansion and contraction of the two materials).
The diagonal cracking near the ends is likely a result of not only horizontal expansion, but the inward movement of the parapet as well. On older buildings, the parapet can be tilted backward so far that it almost falls over.
Above all, do not just assume that vertical joints in the parapet will cure the condition, until you rule out the above mechanism.