We use this way on the A320 :
Passing TA :
PF : Pull Standard
PNF : Standard set, crosschecked, passing FL xxx (set Standard, crosscheck that PF also set Standard and read the FL which the ac passes right now)
PF : checked (confirm the altimeter readout)
then we read the after to checklist :
BARO REF _______ SET (BOTH)
PNF : Baro Ref
PF : Standard SET
PNF : Standard SET
Vice verca for the descend upon receiving a clearance to descend to a cleared Altitude based on a QNH/QFE Value