Preheat oven to 325 degrees and spray an 8x8 baking dish with nonstick spray. In a large bowl, mix together the ingredients for the brownies. Pour into prepared pan and bake 19-21 minutes, until a toothpick inserted in the center comes out clean. Remove from oven and cool completely.
In a medium sized bowl, combine the frosting ingredients and mix until smooth using an electric hand blender. Spread frosting onto brownies and top with a sprinkle of chili powder.