A/P engaged:
PF - selects FL/altitude and says it.
PNF - acknowledges when correct FL/altitude is selected.
Handflying:
PNF - selects FL/altitude and says it.
PF - acknowledges when correct FL/altitude is selected.
At all times:
PNF calls "1000' to go" prior to level off at selected FL/Altitude and PF acknowledges. Usually the aural warning gets in the way.