In a mixing bowl, beat the softened cream cheese and butter until smooth.
Sift in the cocoa powder and mix until fully incorporated.
Gradually add the powdered sugar, mixing on low speed.
Increase speed to medium and mix until fluffy.
Add vanilla extract and mix for another minute.
Check the consistency; add milk if needed to reach desired texture.
Use immediately or store in the refrigerator until needed.
Decorate your cake or cupcakes using a piping bag.