* Q3 oper EPS $0.59 vs $0.86 last year

* Revenue rises 2 pct

* Narrows FY'09 oper EPS view $2.85-$3.05

* Shares rise as much as 16 pct (Recasts, adds analysts comments, updates share movement)

BANGALORE, Nov 5 (Reuters) - Huron Consulting Group Inc (HURN.O: Quote, Profile, Research) swung to a quarterly loss, hurt mainly by expected impairment charges, but its shares rose sharply on the hopes that the worst of the company's problems are behind it.

"The investment community is relieved that the business is not cratering. I think most of it is more of relief that the company has averted a disastrous situation," analyst Sean Jackson of Avondale Partners said by phone.

A major accounting scandal was revealed at Huron in July, forcing the top management to quit the firm. The company also said it would restate more than three years of earnings because of misreported costs related to acquisitions.

Shares of the company jumped as much as 16 percent in morning trade but pared some gains and were up 9 percent at $25.56 in midday trade on Nasdaq.

For the latest third quarter, net loss was $64 million, or $3.16 a share, mainly due to a non-cash goodwill impairment charge of $106 million.