To make the caramel icing, pour store bought caramel syrup in a saucepan and stir on a low heat. Add cornstarch gradually and stir continuously to avoid burning, and mix until you reach a desired spreadable consistency. Let it cool completely before use.
To make the chocolate icing, combine all sifted dry ingredients. Bring to boil all liquid ingredients on a medium heat. Add dry ingredients to the boiling mixture. Cook until desired consistency and take off from the heat and stir in the butter. Mix thoroughly and let it cool completely.
Transfer chocolate icing on a piping bag and cut end of the bag or use small plain round tip. To frost the layered cake pour the caramel icing on top of chocolate cake and spread evenly to cover the whole cake. Pipe or drizzle chocolate icing on top of caramel and create any design you like.