Preheat oven to 350 degrees F and grease 1 4 1/2" x 8 1/2" loaf pan.
In a large bowl, mix flour, baking soda, salt, cinnamon and nutmeg together. Make a well and set aside.
In a medium bowl, thoroughly beat together the eggs, sugar, pumpkin puree, oil, and water. Add to the well of the dry ingredients and mix until combined. Pour batter into greased loaf pan.
Bake for 60-70 minutes but tent a piece of foil over the top half way through (you need to pinch it at the ends so it forms a dome so the bread can rise) to prevent the top from browning too much. Start checking the bread at 50-55 minutes and if it looks too wet on top, take off the foil and finish cooking without it. Cook until toothpick comes out clean. Let the bread cool completely in the pan before removing.
Make the frosting by creaming the frosting ingredients together. Spread on top of bread.