Preheat oven to 350F and line an 8x8 baking dish with parchment paper. In a large bowl mix all wet ingredients. Add dry ingredients to the same bowl and mix well. Fold in chopped carrots and walnuts. Bake for 30min or until a toothpick comes out clean. While cake is cooling, add all frosting ingredients to a bowl and mix with handheld mixer until fluffy. When cake is cool, spread frosting evenly on top and top with more walnuts. Place in fridge to chill before eating. Enjoy!!