Composting and worm farming are different but similar. With composting often you are looking to generate heat to help with the breakdown process of organic material. This level of heat is sufficient to kill a worm herd.
As with vermi-posting, composting uses organisms to eat organic material. This is why you get slaters, fungi, beetles and bacteria in there. Sometimes cockroaches will be attracted to the bins. Often these are native insects and a sign of a healthy garden. If they are huge, scary cockroaches then burying food scraps and giving the bin a dose of ag lime will probably get rid of them.
You can turn your composte often or just leave it as I do. Turning it will make the process quicker. Lazy patience is my preference. :)
For me the point of composting is to keep organic material out of the dump.