Preheat oven to 350.

Prepare a cake dish by either oiling & flouring or lining with parchment paper. Set aside.

In a large bowl, blend the oil and sugars until light and fluffy, about 2 minutes. Add in the eggs one at a time, as well as the vanilla. Set aside.

In a separate small bowl, stir together the dry ingredients. Add slowly to the oil-sugar mixture, alternating with handfuls of the carrots.

Scrap the batter out of the bowl into the prepared cake pan and bake 35-45 minutes, but start testing around the 30 minute mark in case your oven runs hot. Test by inserting a cake tester or wooden toothpick into the center to check for uncooked batter.

Cool on a baking rack for two minutes before removing from the pan, to prevent breaking the cake.

Meanwhile, prepare the frosting by blending together all ingredients. Adjust the pineapple juice and icing sugar amounts to your personal preference.

When ready, cut the cake in half and frost. Add the second layer and add a generous coat of frosting.

Garnish with walnuts and then pour on the caramel sauce, if using.